Nigeria to lead EITI'S global network on Contract Transparency

user_icon Nigeria to lead EITI'S global network on Contract Transparency Posted by: NOTICE.COM.NG Staff
calendar-icon Nigeria to lead EITI'S global network on Contract Transparency Posted on: 2021-06-07 15:31:16
Nigeria to lead EITI'S global network on Contract Transparency EXTRACTIVE-INDUSTRIES-TRANSPARENCY-INITIATIVE

Nigeria has bagged the Chairmanship position of the Extractive Industries Transparency Initiative global Network on Contract Transparency.

The Country Manager, Extractive Industries Transparency Initiative global Network of EITI for Anglophone countries, Dr Mike Uzoigwe announced the appointment at the knowledge sharing sessions for management of NEITI in Abuja.

The new responsibility for Nigeria was disclosed in a statement signed by the Head, Communications and Advocacy at NEITI, Obiageli Onuorah.

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She informed that Dr Orji Ogbonnaya Orji, the Executive Secretary of NEITI, is expected to chair the global initiative on behalf of Nigeria.

Real owners of oil, gas assets in Nigeria will be made public soon - NEITI The Contract Transparency initiative for extractive industries was established to develop tools and standards and tools of engagement on Contract Disclosures.

The framework when developed will serve as a guide for the 54 member countries of EITI on modalities for reporting contract details in the extractive industry.

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Onuorah explained that ‘'The appointment of Nigeria to Chair the EITI global Network on contract transparency is in recognition of the extensive work that NEITI has done to enshrine Contract disclosure as part of its rules of engagement with covered entities in Nigeria.

Dr. Orji who disclosed that Nigeria has accepted the position said being the leader of the Global Network was a recognition of the enormous leadership the country exhibited in the implementation of the EITI rules.

The global network is made of 2O EITI implementing countries including Nigeria. The countries are Indonesia, Philippines, Mexico, Armenia, Cameroun, Chad, Democratic Republic of Congo, Ghana, Malawi, Guinea, Mongolia, Mozambique, Myanmar, Senegal, Sao Tome e' Principe, Togo, Zambia and Tanzania.

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The NEITI boss explained that Nigeria is in a hurry to improve revenue flows from the extractive sector into government coffers and improve overall governance to attract investments, create jobs and reduce poverty in the country.

The EITI Country Manager for Anglophone countries, Dr. Mike Uzoigwe informed that EITI is taking the issue of energy transition seriously and urged NEITI to lead the engagement with stakeholders.

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Dr. Uzoigwe pointed out that Nigeria is the most elaborate EITI implementing country among 55 member countries through the work of NEITI.

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