TheCable

The Extractive Industries Transparency Initiative (EITI) has commended Nigeria for inaugurating the governing board of the Nigeria Extractive Industries Transparency Initiative (NEITI).

The board, also known as the National Stakeholders Working Group (NSWG), was inaugurated by President Muhammadu Buhari on Thursday in Abuja – after 17 months since the Kayode Fayemi-led board left.

In an exclusive statement made available to TheCable on Friday, Mark Robinson, executive director of the EITI International Secretariat, congratulates NEITI on its new board leaders.

Robinson said the international secretariat of EITI welcomes the board’s leadership in promoting greater transparency and accountability in Nigeria’s extractive sector.

“We congratulate NEITI in the appointment of its new National Stakeholders Working Group (NSWG),” he said.

“The governing board – comprised of leaders from Nigerian government, industry and civil society – plays a critical role in upholding the EITI Standard and overseeing its implementation in Nigeria.

“We welcome the board’s leadership in promoting greater transparency and accountability in Nigeria’s extractive sector, a commitment that was further renewed by President Muhammadu Buhari at the board’s inauguration.”

During the inauguration, represented by Boss Mustapha, the secretary to the government of the federation (SGF), reaffirmed the country’s commitment to implementing the principles, objectives, and standards of EITI in oil, gas and mining sectors.

“Let me also on behalf of Mr. President use this opportunity to renew the commitment of the Nigerian government to the EITI implementation under the provisions of the NEITI Act 2007, and international standards and best practices under the Extractive Industries Transparency Initiative principles and emerging issues such as Beneficial Ownership Disclosure, Contract Transparency, data mainstreaming, among others,” Buhari said.

Olusegun Adekunle, former permanent secretary, general services in the office of the SGF and Ogbonnaya Orji, executive secretary of NEITI, will serve as chairman and secretary of the 15-member NEITI board.

Nigeria is currently the chair of the EITI’s global network on contract transparency.