A Review of the Nigerian Energy Industry

Congo joins transparency group

City of Goma, Congo03 July 2014 – The Democratic Republic of Congo has been given full membership to the Extractive Industries Transparency Initiative (EITI), the global organisation which promotes good management of oil, gas and mineral resources.
The group announced on Wednesday that the Congo was made an official part of the group just over a year after the country failed to disclose its mining sector revenue.

EITI said the government had since addressed the issues raised in a 2010 report which resulted in the country’s suspension. It added Congo was now compliant.

EITI chair Clare Short said the country had made efforts to reform, despite challenges.

“Despite all the challenges facing the country, the Congolese people have been working together to bring transparency and accountability to the management of their natural resources,” Short said.

The organisation, which involves governments, companies, civil society groups, investors and organisations, encourages transparency by tallying revenue declared by states and comparing that to payments made by resources companies.

The Congo was ranked 154 of 177 countries in Transparency International’s 2013 corruption perception index.
*Bianca Bartucciotto-Upstreamonline

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