Nigeria’s Successful Assessment in the Global EITI Evaluation

Nigeria has successfully completed the final global evaluation of its implementation of the Extractive Industries Transparency Initiative (EITI). The International Board of EITI has released the findings of the assessment, which spanned over a period of 11 months. The assessment was coordinated from the international headquarters in Oslo, Norway and was chaired by Helen Clark, former Prime Minister of New Zealand.

During the international evaluation, Nigeria achieved an overall score of 72 points, with a specific focus on three key areas: transparency, stakeholder engagement, and the outcomes and impacts of its initiatives. Nigeria scored 92 points on outcomes and impacts, 71.5 points on the implementation of transparency-driven reforms within the extractive industry, and 52.5 points on stakeholder engagement.

The Board acknowledged the effective implementation of EITI by the Nigerian Extractive Industries Transparency Initiative (NEITI), which has resulted in visible and tangible impacts on the governance of the extractive industry. Furthermore, they praised the robust system that NEITI has in place for the development of work plans, as well as monitoring, evaluation, dissemination, and outreach. The international board particularly commended NEITI’s leadership in driving reforms and governing the oil, gas, and mining sectors.

The assessment also highlighted the credibility and comprehensiveness of NEITI’s reports, earning the agency 90 points in this area. This demonstrates that information and data presented in NEITI reports are both credible and globally recognized as comprehensive.

In response to the global assessment report, Dr. Orji Ogbonnaya Orji, the Executive Secretary of NEITI, expressed the agency’s commitment to achieving visible results that will influence ongoing reforms and ultimately improve the lives of Nigerians. He emphasized NEITI’s determination to secure more revenue for the government by plugging leakages.

The successful evaluation of Nigeria in the global EITI assessment is a testament to the country’s dedication to transparency and good governance within the extractive industry. This accomplishment reflects Nigeria’s pledge to ensure that the management of natural resources benefits the nation as a whole.

Authored by Kayode Oyebisi. Edited by Oluwaseyi Ajibade.