Nigeria Achieves Positive Results in Global EITI Assessment
Nigeria has successfully completed the final assessment of the implementation of the Extractive Industries Transparency Initiative (EITI) on a global scale. The International Board of EITI publicly announced the outcome of the assessment during its 58th board meeting held in Oslo, Norway, presided over by Helen Clark, a former Prime Minister of New Zealand.
Following an 11-month assessment period, Nigeria attained an overall score of 72 points, as stated by the Nigeria Extractive Industries Transparency Initiative (NEITI) in a released statement on Thursday. The evaluation focused on three main thematic areas: transparency, stakeholders’ engagement, and outcomes and impacts. Nigeria achieved its highest score of 92 points on outcomes and impacts, 71.5 points on implementing transparency-driven reforms in the extractive industry, and 52.5 points on stakeholders’ engagements.
The Board specifically praised NEITI for its effective implementation of the EITI in the country, citing “visible and tangible impacts on extractive industry governance” as the basis for Nigeria’s rating of 72 points out of 100. The Board highlighted NEITI’s robust system for developing work plans for implementation, monitoring and evaluation, dissemination, and outreach as the contributing factor to the impressive score of 92 points in the area of outcomes and impacts.
The 20-member board, chaired by Ms. Clark, commended the substantial and visible impacts of NEITI in driving reforms and governance in the oil, gas, and mining sectors. In response to the global assessment report, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, expressed his expectations for a higher overall score for Nigeria. Dr. Orji emphasized the government’s support, stakeholder collaboration, and the significant efforts made by NEITI on behalf of the federal government over the past two years as grounds for his expectations.
The positive results achieved by Nigeria in the global EITI assessment reinforce the commitment of the country towards enhanced transparency in its extractive industries. The remarkable score obtained by Nigeria serves as a testament to the impactful reforms and governance initiatives led by NEITI in the oil, gas, and mining sectors.
This exceptional achievement underscores the importance of transparency and accountability in the management of extractive resources, and it further reaffirms Nigeria’s dedication to effective governance and sustainable development within its extractive industries.
