BY  OSCARLINE  ONWUEMENYI
ABUJA – The Chairman of the Task Force on the Extractive Industries Transparency Initiative Validation, Mazi Sam Ohabunwa, has announced that NEITI has met virtually all the conditions for the attainment of compliant status by the global EITI body.

Ohuabunwa, who was speaking after a meeting of the Special Task Force on NEITI Validation stressed that based on field reports presented to the Task Force, come January 15, 2011, all the six conditions given by the EITI for Nigeria to attain full compliant status will be met by Nigeria Extractive Industries Transparency Initiative (NEITI).

He expressed satisfaction that NEITI Secretariat and the Taskforce have approached this critical assignment with unequalled zeal and commitment.

He noted that the Taskforce has received confirmations on the progress recorded on the following key issues, including the completion of the 2006-2008 NEITI Audits of the oil and gas industry.

The report of the 2006-2008 NEITI Audits of the oil and gas sector is expected to be ready on January 12, 2011.

“All required data for the audit have been collated and are being processed and analyzed. To ensure that this is completed on or before January 12, some staff of the technical department have been mobilized to work with the auditors.

“The release of the 2006 -2008 audit report of the oil and gas sector is a major condition required for Nigeria to attain full EITI compliant status.”

He noted that the simplified version of the 2005 Audit report, which is the second condition, has been met.
“The document carefully presented in a question and answer format, is ready for wider dissemination. Meanwhile it is already on the NEITI website. A template has been designed to simplify the report of 2006 – 2008 audits as soon as it is released,” he added.

Also, he noted, a Board Charter which defines the role and powers of the National Stakeholders Working Group (NSWG) and its relationship with NEITI Secretariat has been produced.  The document has been vetted by the Task Force and is ready for the approval of the NSWG at its meeting convened for 13th January, 2011.

The Task Force chairman also confirmed that the issue of ‘Developing an Agreement to Ensure Comprehensive Disclosure of Signature Bonuses’ has been adequately addressed.

“Data on outstanding signature bonuses for the 2005 Audit have been collected while measures have been taken to include same in the 2006 -2008 audit as required by the global EITI.

“On steps to ensure that all Government disclosures are based on audited accounts to International standards, NEITI is working in collaboration with the Office of the Auditor – General of the Federation has equally met this condition,” he added.

He noted that at the instance of NEITI, a Multi-Stakeholder tripartite committee on the JDZ between Nigeria and Sao Tome and Principe has been reconstituted to address all sundry issues raised by the EITI Board, especially with regards to measures to ensure that it’s the next audit covers the Nigeria-Sao Tome e Principe Joint Development Zone

He said, “A progress meeting on this issue was held in Abuja on 7th January, 2011 between NEITI, the Joint Development Authority (JDA), representatives of the Word Bank and the Civil Society. Progress on this condition as required by the EITI has been recorded.

“In addition to the resounding achievements on these EITI identified conditions; the NEITI Secretariat has initiated measures to reconstitute the Inter-Ministerial Task Team to address outstanding remediation issues arising from the last audit in 2005.

A comprehensive report of the Task Force on the six EITI Board conditions is expected to be presented to an extra ordinary meeting of the NSWG convened by the NEITI Secretariat on January 13, 2011. At that meeting, the NSWG is expected to consider and approve the 2006-2008 audit report, the Board Charter and other measures taken to meet the conditions.

The EITI Board had at its meeting last October adjudged Nigeria as Close to Compliant, giving six conditions which the country must meet to attain full compliant status on or by April, 2011. As a result of this development, the NEITI Board at its meeting on November 4th, 2010 constituted a Task Force made up of some members of the Board and the Secretariat to ensure that NEITI meets the conditions ahead of the April deadline.

The chairman praised the leadership of the Executive Secretary, Mrs. Zainab Ahmed in mobilizing both men and resources in this direction.

In his remarks, the Executive Secretary, Mrs Ahmed expressed satisfaction with the support of the Board, the Task Force, the media and the civil society on the progress so far made in meeting the conditions.

Mrs. Ahmed described attaining EITI Complaint Status as strategic to the development of the nation’s extractive sector.