The Nigeria Extractive Industries Transparency Initiative (NEITI) have been commended for the successful completion of 2022/2023 Oil, Gas, and Solid Minerals Industry Reports Ahead of Schedule.
Chairman of the National Stakeholders Working Group (NSWG) of the NEITI and Secretary to the Government of the Federation (SGF), Senator George Akume, gave the commendation on Wednesday during the meeting of the group in Abuja.
TheFact Daily reports that the achievement marks a significant milestone in Nigeria’s journey toward transparency, accountability, and good governance in the extractive industries.
He highlighted the achievements of the group since its inauguration, acknowledging the hard work and dedication of civil society, extractive companies, government agencies, and the NEITI Secretariat in driving these efforts.
Reflecting on Nigeria’s commitment to the global Extractive Industries Transparency Initiative (EITI) standards, the SGF announced the successful and timely completion of the 2022-2023 Oil, Gas, and Solid Minerals Industry Reports, a crucial deliverable mandated during the EITI mission visit in January this year.
“I am pleased to announce that today, NEITI has successfully delivered on the task of completing these reports ahead of schedule. This is not only a major milestone but also a powerful demonstration of our collective commitment to upholding the principles of transparency and accountability in Nigeria’s extractive industries.” said Akume.
Akume further highlighted that this achievement fulfils key commitments made by President Bola Ahmed Tinubu to the EITI delegation earlier this year.
“During that visit, I committed to ensuring that the NSWG would be reconstituted and that the industry reports would be completed and published by September. Today, I am proud to say that both commitments have been fully met.”
The SGF also recognised the efforts of the NSWG’s Extractive Committee, which extensively reviewed and refined the draft report. He expressed gratitude to the committee members, particularly its chairman, Mr. Gwueke Ajaifa, for their hard work in ensuring the report’s accuracy and thoroughness.
“I want to thank the committee for the extraordinary work done so far, your efforts have greatly contributed to the success we celebrate today.” Akume said.
Commending the NEITI Secretariat for their leadership, Akume said, “The timely and diligent execution of this task is a testament to their unwavering commitment to ensuring that Nigeria reaps the full benefits of its natural resources.”
As Nigeria continues on its path toward progress in the extractive industries, the SGF called on all stakeholders—from government, civil society, and the private sector—to remain engaged and collaborative.
“Together, we are setting new benchmarks for transparency and accountability in Nigeria’s extractive industries, and this is just the beginning,” he concluded.
Answering questions from newsmen, a member of the Board and Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, explained that the focus of the 2022/2023 Industry Report, approved by the Board, is on public disclosure, blocking leakages, and incentivising domestic resource mobilisation.
Dr. Orji stated that NEITI’s new strategy is to use its reports to identify and disclose where potential government revenues are hidden and provide credible information on how such funds could be recovered by the respective government agencies covered by the NEITI process.
“We are therefore grateful to the Federal Government for funding these important independent reports at a time of economic difficulty amidst increasing national priorities. We are equally delighted that we delivered the report on time to provide current information and data, placing them in the public domain,” said Dr. Orji.
