Oil: Nigeria key in shaping global transparency standards – EITI

NEITIOscarline Onwuemenyi 10 August 2016, Sweetcrude, Abuja – The Extractive Industries and Transparency Initiative, EITI, a global body which promotes public awareness about how countries manage oil, gas and mineral resources, have commended Nigeria for being one of the first countries to implement its standards.

The EITI Country Manager, Mr. Alex Gordy, who led his team to the Nigerian National Petroleum Corporation, NNPC, head-office in Abuja, also stated that out of about 51 countries, Nigeria was key in shaping the global EITI development.

Gordy, in the statement signed by the Group General Manager, Group Public Affairs Division of the NNPC, Mr. Garba Deen Muhammad, expressed happiness that Nigeria has expanded the scope of its implementation of the EITI standards, across the entire value chain of the oil and gas industry as exemplified by the organisation’s Nigerian arm, Nigerian Extractive Industry Transparency Initiative, NEITI.

He stated that Nigeria last underwent EITI validation in 2010 and that the new validation exercise has recently commenced.

The EITI validation exercise is done in order to assess whether a country is or is not compliant with EITI principles and criteria.

These include a commitment to implement EITI standards; commitment to work with civil society and the private sector; having individuals that lead implementation; and a work plan agreed with stakeholders.

Earlier in his speech, the Group Managing Director of the NNPC, Dr. Maikanti Kachalla Baru stated that the NNPC remains committed towards full compliance with the standards required by the NEITI.

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