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NEITI, stakeholders meet to review Nigeria’s 2023 extractive industries report

by Business News Report

The Nigeria Extractive Industries Transparency Initiative (NEITI) is engaging stakeholders to review and validate Nigeria’s extractive industries’ 2023 Annual Progress Report (APR). NEITI executive secretary Orji Ogbonnaya Orji said this at a stakeholder’s consultation and validation meeting on Thursday in Abuja. The meeting was centred on the 2023 Annual Progress Report (APR) of the Nigeria extractive industries, which covers the oil, gas, and mining sectors. Mr Orji said stakeholders’ engagement in the Extractive Industries Transparency Initiative (EITI) process was important. He stated, “The global EITI requirement of 1.5 under its 2023 standard mandates all implementing countries, including Nigeria, to document their review of the impacts and outcomes of the EITI implementation in an APR. This can also be done through other means as may be agreed by the Multi-Stakeholders Group (MSG).

“It requires that all stakeholders, companies, government and civil society involved in the EITI process, including those not on the MSG, should participate in reviewing the impact of EITI implementation. They are required to also provide feedback and have their views reflected in the annual progress report.” Mr Orji said the programme, therefore, aimed to reflect the stakeholders’ views in the 2023 APR of the NEI in line with the requirements of the global EITI. He said the event served as an opportunity to evaluate and celebrate the progress, milestones, and achievements recorded in Nigeria’s extractive sectors in the year under review. Mr Orji called on stakeholders to share their contributions to the sector to enable NEITI to report and celebrate them through the instrumentality of the global EITI.

According to him, the APR is not solely the business of the NEITI Secretariat but a collective effort by all parties working towards achieving EITI objectives in Nigeria. “While we acknowledge that there are still many issues to be addressed in the sectors, we must document, report, and celebrate our efforts and progress,” the NEITI boss explained. “Addressing those issues will build trust, earn citizens/investors’ confidence, and attract the desired investment into our extractive sectors and economy.” Faith Nwadishi, a former member of the EITI international board, decried successive governments’ regular dissolution of the board. Ms Nwadishi said, “The fact that each time a new government comes into office, it dissolves the EITI board in the country is a concern. This is because it can lead to the country’s suspension from the international body, but we are lucky that the board was eventually put together. 

“I am sure that if the NEITI board had not been put together, the EITI International Board meeting happening right now in Geneva would have been a serious concern. We had a similar issue in 2016. Therefore, we must understand the role of the board.” While commenting on the draft report, Ms Nwadishi also observed that not many civil society reports had been captured in the APR. She urged them to send their reports, saying it was why it is a country work plan comprising inputs of all stakeholders, civil societies, government, and companies. NAN

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