By Oscarline Onwuemenyi
THE Nigeria Extractive Industries Transparency Initiative, NEITI, has said it has begun the process of engaging consultants to begin a scoping study of the nation’s minerals and mining sector.

The Executive Secretary of NEITI, Mrs. Zainab Ahmed, who made the disclosure at a meeting with the Minister of Mines and Steel Development, in Abuja, noted that this was in line with the mandate of the Initiative to ensure transparency and more efficient management of natural resources in the country.

According to Ahmed, the engagement of consultants for the scoping study has reached an advanced stage, adding that NEITI was ready to commence the study and the audit this year.

She pointed out that for countries blessed with natural resources such as oil and gas, and solid minerals, the tendency for corruption and mis‑governance is high because of the nature of such resources, known as point resources.

AIn such countries, the level of poverty also tends to be high. This has led to a common syndrome of resource-curse, the paradox of poverty in the midst of plenty, or the Dutch disease.

“The management of revenue accruing from the extractive sector in a transparent, prudent and accountable manner, which is the panacea for resource‑curse, has proved such a huge challenge in resource‑rich countries such as Nigeria,” she stated.

Meanwhile, the Minister of Mines and Steel Development, Mr. Mohammed Musa Sada, has pledged to work closely with NEITI in the proposed Solid Minerals Audit expected to commence this year.

The minister explained that a closer partnership between the ministry and NEITI will accelerate the development of the mining and solid mineral sector, while also promoting prudent management of revenue flows and attract Foreign Direct Investment, FDI, to the sector.

The minister welcomed the renewed move by NEITI to build partnership and cooperation among companies, government agencies, the civil society and other investors in the extractive sector.

He advised NEITI to work towards the take‑off of the proposed Scoping Study of the solid minerals sector, create awareness and engage all categories of mining companies.