The Nigeria Extractive Industries Transparency Initiative (NEITI) is to begin a comprehensive audit of the solid minerals sector soon, to fast-track the development of the economy. This was contained in a statement, signed by the Director of Communications of the agency, Mr Orji Ogbonnaya. The statement said that NEITI Chairman, Prof. Assisi Asobie, made the statement in Abuja at the Board meeting of the National Stakeholders Working Group (NSWG).

It said that the move was meant to complement the annual audit of the oil and gas sector. The statement noted that NEITI was also working hard to update and ensure regularity of the audit of the oil and gas sector to bring it up to date.

“The comprehensive audit of oil, gas and solid minerals sector is to cover the period 2009-2010. NEITI has so far conducted audit for 1999 -2005, and recently 2006-2008, but is yet to conduct any audit in the solid minerals sector, Asobie said.

It said that the board had directed the NEITI secretariat to work closely with the offices of the Auditor General of the Federation and the Accountant General of the Federation.

“This is to ensure that accounts of public agencies were audited in accordance with international standards,” it said. The meeting also stressed the need for the agency to work with Sao Tome and Principe members of the Nigeria STP Joint Development Authority and World Bank to commission the auditing of revenue flows generated in the joint development.