Business

June 21, 2024

NEITI seeks stakeholders support to deepen reforms in extractive sector

NEITI

By Obas Esiedesa, Abuja

The Nigeria Extractive Industries Transparency Initiative, NEITI, has solicited the support of stakeholders to deepen the ongoing reforms in Nigeria’s oil and gas industry and the solid minerals sector.

The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji who made the appeal at the stakeholders validation workshop on the 2023 annual progress report in Nigeria’s extractive industries, said while there were still a lot of work to be done, massive achievements have been recorded in reforming the industry in Nigeria.

Dr. Orji who was represented at the event by the acting Executive Secretary, Jane Onwumere pointed out that the implementation of the EITI process requires the active participation of the government, operating companies and the civil societies.

He explained that the workshop was an opportunity for the stakeholders “to evaluate and celebrate progress, milestones and achievements recorded through our various organization’s program and activities in the oil gas and mining sector within the period under review, through the mechanism of EITI annual progress reporting.

“The objective is to deepen EITI implementation in Nigeria and report on its progress, outcomes and impacts. It is therefore important to state that annual progress reporting is not just a NEITI Secretariat business alone, it concerns all the stakeholders whose works in their various organizations have been contributing to achieving EITI objectives in Nigeria.

“Therefore, APR is about documenting, reporting, showcasing and celebrating the good work being done by various stakeholders – government agencies, civil society organizations and companies that have been contributing in one way or another, to deepening reforms in Nigeria’s extractive industries”.

Dr Orji pointed out that “while we acknowledge that indeed, there are still many issues to be addressed in the sectors, we must document, report and celebrate those efforts and progress we are making in the process of addressing those issues so as to build trust, earn citizens/investors’ confidence and attract the desired investment into our extractive sectors and economy”.

Also speaking at the event, the Executive Director, Centre for Transparency Advocacy, Faith Nwadishi noted civil society organizations have played a crucial role in the ongoing reforms in the sector.

She however called for an end to the frequent dissolution of the NEITI board whenever a new government takes over, noting Nigeria narrowly avoided suspension following the dissolution of the last board by President Bola Tinubu.