Abuja – The Extractive Industries and Transparency Initiative (EITI), has lauded Nigeria for implementing it’s laid standards.
EITI is a global body that promotes public awareness on how countries manage oil, gas and mineral resources.
This is contained in a statement signed by Alhaji Garba Deen Muhammad, NNPC Group General Manager, Group Public Affairs division, on Wednesday.
Muhammad said the body gave the commendation when its Country Manager, Alex Gordy, visited the Group Managing Director of the NNPC, Dr Maikanti Baru, in Abuja.
Gordy said Nigeria was one of the first countries to implement its standards, adding that out of about 51 countries, Nigeria was key in shaping the global EITI development.
He expressed happiness that Nigeria had expanded the scope of its implementation of the EITI standards, across the entire value chain of the oil and gas industry as exemplified by the organisation’s Nigerian arm, NEITI.
He added that Nigeria last underwent EITI validation in 2010 and that the new validation exercise had commenced.
The EITI validation is done in order to assess whether a country is or is not compliant with EITI Principles and Criteria.
These include commitment to implement EITI standards; commitment to work with civil society and the private sector; having individuals that lead implementation; and a work plan agreed with stakeholders.
Earlier, Baru said that the NNPC remained committed toward full compliance with the standards required by the NEITI.
“We have been interacting a lot with NEITI and in those engagements, we have been very cooperative in providing the necessary information.
“We will always remain committed toward implementing NEITI’s good standards,” he said.
He added that NEITI also collaborates with the corporation in the process of conducting its investigations
According to him, whenever NEITI requests for any information, NNPC always offer full disclosure.
He further explained that some of the major highlights of transparency and accountability in NNPC, include the monthly publication of the Corporation’s financial reports as well as the public opening of bids for NNPC contracts.
