OrderPaper Advocacy Initiative commends the Nigeria Extractive Industry Transparency Initiative (NEITI) on Nigeria’s emergence as one of seven countries that have attained the highest ranking of ‘Satisfactory Progress’ by the global watchdog, Extractive Industries Transparency Initiative (EITI).
While this recognition is an achievement for Nigeria as a nation, we note that it is a testimony to the drive for innovation combined with the fervent pursuit of NEITI’s mandate that have brought about increased transparency and accountability in the country’s hazy, complex and opaque extractive sector.
The impact of NEITI’s work in promoting transparency in the country’s extractive sector cannot be overemphasized. Apart from the mandatory annual audits of the oil and gas and solid minerals sectors, the production and dissemination of several signature publications including Policy Papers and value-for-money data analytics are essential innovations that have scaled up the level of disclosures and engagements on sector-related issues.
OrderPaper Advocacy Initiative further notes that these steps have enabled more constructive, robust and results-oriented engagements between and among stakeholders in the extractive sector while empowering the media, civil society and citizens to demand more transparency and accountability from government and private sector actors with respect to revenues, receipts and expenditure of proceeds accruing from Nigeria’s rich resource endowments.
According to Oke Epia, Executive Director of OrderPaper Advocacy Initiative, “the attainment of the rank of Satisfactory Progress for Nigeria from the latest validation exercise by the EITI speaks to the worthy gains around disclosures and notable attempts at transparency and accountability. This globally enviable feat is a credit to the Board as well as Management and Staff of NEITI led by the indefatigable Executive Secretary, Mr. Waziri Adio.”
The Executive Director adds that the achievement is however a call on NEITI not to rest on its oars but to work even harder to maintain Nigeria’s place at the top in the implementation of the EITI standards and principles. “It is also a call for other stakeholders especially the media and civil society to continue to rally round NEITI to strengthen its hand in the big push for transparency and accountability in Nigeria’s extractive sector,” he stressed.