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Audit report: Britain tasks FG on transparency in oil sector

By Chinyere Amalu

ABUJA—The British High Commissioner, Bob Dewar has called on Nigerian Government to take advantage of the findings of the second audit report launched by Nigeria Extractive Industries Transparency Initiative (NEITI) to address accountability and transparency issues in oil sectors.

The recent launch of the second audit undertaken by the Nigeria Extractive Industries Transparency Initiative (NEITI) comprised a financial, process and physical audit of Nigeria’s oil and gas sector in 2005.

According to a statement by Jon Bacon, 3rd Secretary Press/Political Press Section British High Commission and made available to Vanguard, the High Commissioner was speaking at the launching of the report.

According to Dewar, “the audit has raised several issues, which need to be addressed. Transparency and accountability are crucial to good governance and development.

“The audit has raised several issues, which need to be addressed.  I hope Nigeria will use the findings of this audit to take action and introduce further transparency and accountability measures. It should not be shelved without action. And audits for subsequent years need to be produced rapidly”, he added.

According to the statement, the audit revealed areas where there were differences between revenue claimed to have been received by Federal Government and payments made by the oil companies.


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