FG Reaffirms commitment to implementing EITI in Nigeria: Charges new NEITI Board to support government’s domestic resource mobilisation and mitigate Nigeria’s energy transition risks.

UGO AMADI

The Federal government has urged the newly reconstituted NEITI Board to strengthen the agency’s renewed commitment towards domestic resource mobilisation for Nigeria and a vehicle to mitigate the risks and gaps in energy transition through deployment of information and data.

Secretary to the Government of the Federation and Chair of the NEITI Board, Senator George Akume gave the charge during the opening session of the retreat for the NEITI Board that is in progress in Lagos.

Represented by the immediate Nigeria’s Ambassador to Togo, and member of the NEITI Board, Ambassador Mathew Adoli, the SGF identified the federal government’s interest in the extractive sector as reforms driven by transparency, beneficial ownership disclosures, contract transparency, revenue generation, tackling oil theft and other process lapses in the industry.

The SGF commended the work that NEITI in collaboration with other agencies have done and urged members of the new Board to consider their appointments as opportunities to give back to the country and contribute to the progress and development of Nigeria’s extractive sector”.

The SGF reiterated that “By Nigeria’s strengthened membership of the EITI, the President has demonstrated the desire to enthrone good governance, openness and transparency in the governance and management of Nigeria’s oil, gas and solid minerals sector revenues through the enhancement of popular participation, inclusivity, accountability and unrestricted support to NEITI to carry out its functions”.

“Let me renew the unequivocal commitment of the Nigerian government to the implementation of the EITI under the provisions of the NEITI Act 2007 and the global EITI Standard which has led to the prompt implementation of the report findings and recommendations as catalysts to reforms and transformation of Nigeria’s oil, gas and mining sectors as well as the general conduct of government’s business”, Senator Akume reiterated.

He added that “The federal government’s faith in the EITI process is because over the years, NEITI has demonstrated a high degree of competence, integrity and commitment to the values that the country requires to achieve economic growth and development in the sector through availability of reliable information and data required for national planning and reforms”. Senator Akume advised the new Board to ensure that NEITI continues to preserve these virtues that made it stand out for the benefit of the citizens.

Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji explained that the Retreat presents the opportunity for the new Board to reflect on the role of NEITI in shaping a new direction for the extractive industry. “This requires robust discussions that will bring about ideas to deal with the current challenges of oil theft, illegal mining, stealing of Nigeria’s precious minerals, pipeline vandalism, damage to the environment and the eco system and other governance challenges that have contributed to loss of revenues and investment opportunities in the sector that should be addressed”, Dr Orji emphasised.

More importantly, Dr. Orji drew members’ attention to the need to diversify Nigeria’s revenue base to reduce the risks faced by the country’s reliance on fossil fuel when there is already a transition and movement to renewable energy sources. “It is within the ambit of this Board to support our government and citizens with timely policy decisions and strategies to deal with the unavoidable unfolding development of stranded assets in the extractive sector as a result of energy transition”, the transparency boss enthused.

Dr. Orji lamented that Nigeria already faces significant threats to its economy from the prospect of a permanent decline in global demand for crude oil with significant long-term impact on the country’s revenue and exports. He however, was optimistic that the Extractive Industries Transparency Initiative, its global network and multi stakeholder’s framework will provide immense opportunities and solutions to Nigeria’s energy transition journey.

The Executive Secretary urged members to bring forward their best ideas and most innovative solutions because the challenges facing Nigeria are significant and dire, but can be overcome through collective determination and creativity.

Governor of Lagos state, Babajide Sanwo Olu, represented by the Commissioner of Energy, Mr. Biodun Ogunleye, while declaring the retreat open, called on the NEITI Board to “Pay greater attention to sub national engagements with governments at state and local government levels where the host communities bear the responsibility of extractive activities”. He underlined the wider participation of the states, local governments and the private sector in extractive industry governance in other to promote and attract investments in to Nigeria’s extractive industry and diversify Nigeria’s economy in the areas of “Solid minerals development, host community programs, environmental sustainability, energy efficiency, domestic resource mobilization and poverty reduction initiatives”.

The Regional Director of Anglophone Africa of the global EITI, Mr. Gilbert Makore, pointed out Nigeria’s importance in the EITI global family, with 57 implementing countries across the world. According to him, “The size of the extractive sector, the population of Nigeria, the potentials of sector growth and the fact that Nigeria was an EITI implementing country from the outset impacts the growth and development of the EITI. It is not far – fetched to say as Nigeria goes, so goes other EITI countries”.

Mr Gilbert urged NEITI and the NSWG to ensure that its EITI disclosures lead to the right reforms, inform government policy and practice, contribute to the national agenda on anti-corruption and domestic revenue mobilisation, be an extractives information hub, act as a think tank to the federal government, informing critical government decisions and focus on the country’s validation outcome and the 2023 Standard with the new requirements on- anti-corruption, energy transition, revenue collection and gender, social and environmental aspects.

The Country Manager of ROLAC/IDEA, NEITI’s development partners, reiterated their commitment to support NEITI in its efforts to support government’s diversification of its revenue base for sustainable national development.

The retreat had resource persons drawn from the public, private and development sectors among them, the Director general of the Mining Cadastral Office, Mr. Obadiah Mkon, Former Executive Director of the NNPC, Dr. Tim Okon, the former Country Manager, Anglophone Africa, Dr. Mike Uzoigwe and a former member of the EITI International Board, Ms Faith Nwadishi.

The retreat will end on Friday with a Board meeting to draw up strategies for the implementation of its outcomes.