Nigeria Wins Best EITI Implementing Country Award

Nigeria has won the “best extractive industry transparency implementing country award” institutedby the global Extractive Industries Transparency Initiative(EITI). The award by the world body is to encourage resource-rich countries to embrace the principles of transparency, accountability and prudent management of revenues from oil, gas and mining to aid national development and support poverty reduction.
Nigeria was voted the best implementing country among 39 member countries that have so far embraced the initiativeacross the world.
Announcing the awardat the 6th global conference of the organisation in Sydney, Australia, the chair of the International Board of Extractive Industries Transparency Initiative, Claire Short described NEITI’s implementation of the principles of Extractive Industries Transparency Initiative in the oil, gas and mining sectorsas the most comprehensive, courageous and ambitious.
The Board explained that the award was in recognitionof the increasing demands by Nigerians for accountabilityand massive reforms in the extractive industry. The EITI international commended the Nigeria Extractive Industries Transparency Initiative for the agency’s timely provision of information and data through regular and independent audits of the oil, gas and mining sectors in Nigeria.“While implementation by other member countries was limited to reconciliation of revenue flows of what companies paid against what government received, the Nigerian government through parliamentary legislation extended the mandates of NEITI to include independent physical and processaudits. NEITI’s recent decision to embark on independent tracking of fiscal allocations and statutory disbursements of extractive revenue funds to various tiers and levels of government was well applauded for its significance in ensuring legitimate utilisation of such funds in areas of citizens’needs“ Theindependence, quality, content , comprehensive and incisive nature of NEITI audit reportsis a model for other member countries to emulate”.
The EITI International Board expressed delight that from NEITI’s interventions, Nigerian governmenthas recoveredthe sum of $2 billion while another outstanding sum of $9.6billion was uncovered as potential revenues to theFederation.
“These effortsby NEITI have led to government’s response to public demands for reforms in the sector resulting in the introduction of the Petroleum industry Bill now before the National Assembly for consideration and passage into law among other impacts.”I congratulate NEITI, the government and people of Nigeria especially the civil society and the media” the EITI International Chair, Claire Short, added, amidst ovation by over 1200 delegates drawn from about 95countries that were in Sydney for the conference.
Receiving the award, Head of the FederalGovernment delegation to the EITI Conference and Minister of Mines and Steel development, Arc. Musa Mohammed Sada, described the award as an importantendorsement of Nigeria’s democracy and the transformation agenda of President Jonathan administration. He described the international award as timely, coming at atime Nigeria is marking herCentenary and Democracy Day Celebrations. He expressed delight on the partnership and collaboration between NEITI and relevantgovernment agencies in implementing the EITI process.
Arc. Musa Mohammed Sada usedthe forum to call on investors to take advantage of the massive reforms in the extractive industry and invest in Nigeria.“Now is the time to invest in the oil, gas and mining sectors in our country. The government remains committed to improving the existing businessand investmentopportunities through friendly policies, legislations and improvement in social infrastructure”
Governor Ibrahim Dankwanbo of Gombe state, NEITI chairman,Ledum Mitee, the Executive Secretary, Zainab Ahmed and representatives of civil society organisations in Nigeria accompanied the Minister to receive the award on behalf of the Federal Government.