Group Lauds Nigeria’s Achievements in Extractive Industries Transparency Initiative

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Group Lauds Nigeria’s Achievements in Extractive Industries Transparency Initiative

Group Lauds Nigeria’s Achievements in Extractive Industries Transparency Initiative

The Centre for Transparency Advocacy (CTA), has lauded Nigeria’s achievements in the implementation of the Extractive Industries Transparency Initiative (EITI).

Ms Faith Nwadishi, the Executive Director, CTA, said this in a statement in Abuja.

‘’CTA welcomes the news of Nigeria’s achievements in the recent final global assessment of the implementation of the Extractive Industries Transparency Initiative (EITI) in the country.

“In a release by the EITI global office, Nigeria achieved the highest possible score of 90 points for data integrity, report comprehensiveness, outcomes and impacts, economic growth contribution and legal framework conformance.

‘’The feat is a good development even as the country is graded 72 per cent over 100 overall. We commend NEITI for its consistency in the implementation of the EITI Process since it signed on to the EITI in 2002.

“It is also noteworthy to commend the leadership and management of NEITI to have consistently walked the part of consultations with different stakeholders in its resolve to place Nigeria in good standing in the EITI process,’’ she said.

She added: “Note also that the board specifically cited NEITI’s successful implementation of EITI in the nation with visible and tangible impacts on extractive industry governance in reaching the conclusion for Nigeria’s rating of 72 over 100.

“Although this is a commendable achievement, NEITI, the civil society, relevant stakeholders and the Nigerian government still have a lot to do to achieve at least a 98 per cent excellent mark in the next EITI process in 2026.

“The CTA therefore, calls for the cooperation of all stakeholders including companies in the extractive sector to work together for the good of Nigeria especially in projecting positive activities that will lead to satisfactory outcomes from the EITI process.

“Industry operators and government agencies/regulators should open their doors and allow access for robust engagements and consultations at all times.’’

“Equally, the civil society should keep an open mind in engagements with NEITI which should be more often.

“The EITI process is about Nigeria and therefore bigger than any individual or group aggrandisement.

“As pointed out in the report, Contract Transparency should be a key area to focus in the next EITI process. Arts Forum Enlightens Students on Innovative Digital Tools

“We therefore call for a renewed strategy to reinforce contract disclosures and beneficial ownership by industry operators and government.

“The expansion of beneficial ownership declarations, the focus on the development of the solid minerals sector, and all other emerging challenges in the extractive sector as listed in the EITI Board assessment for improvement are additional areas that need to be improved’’.