The Federal Government has called upon the newly reconstituted Board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to enhance efforts in mobilizing domestic resources for Nigeria and to address risks and gaps in energy transition through effective use of information and data.
George Akume, Secretary to the Government of the Federation (SGF) and Chair of the NEITI Board, delivered this charge during the opening session of the NEITI Board retreat in Lagos on Monday. Represented by Mathew Adoli, former Nigerian Ambassador to Togo and a member of the NEITI Board, Akume emphasized the government’s focus on reforming the extractive sector through transparency, beneficial ownership disclosures, contract transparency, revenue generation, and combating oil theft and other industry lapses.
The SGF commended NEITI for its collaborative efforts with other agencies and urged the new Board members to view their appointments as opportunities to contribute significantly to Nigeria’s extractive sector development.
He stated, “Through Nigeria’s active membership in the EITI, the President has underscored the commitment to governance, openness, and transparency in managing Nigeria’s oil, gas, and solid minerals sector revenues, promoting participation, inclusivity, and accountability.”
Akume reaffirmed the government’s unwavering commitment to implementing the Extractive Industries Transparency Initiative (EITI) under the NEITI Act of 2007 and the global EITI Standard. He highlighted the importance of promptly implementing NEITI’s report findings and recommendations to drive reforms and transform Nigeria’s extractive industries and overall governance.
Orji Ogbonnaya Orji, Executive Secretary of NEITI, emphasized that the retreat provided an opportunity for the new Board to deliberate on NEITI’s role in reshaping the extractive industry’s future direction. He stressed the need for robust discussions to tackle challenges such as oil theft, illegal mining, environmental damage, and governance issues that have impacted revenue and investment opportunities in the sector.
The retreat aims to foster strategic initiatives and policy frameworks that will bolster NEITI’s mandate in promoting transparency and accountability across Nigeria’s extractive industries.
