NEITI, Stakeholders Meet To Review Nigeria’s 2023 Extractive Industries Report

The Nigeria Extractive Industries Transparency Initiative (NEITI) is involving stakeholders to review and validate Nigeria’s 2023 Annual Progress Report (APR) for the extractive industries.

NEITI’s executive secretary, Orji Ogbonnaya Orji, emphasized this during a stakeholder consultation and validation meeting in Abuja, focusing on the oil, gas, and mining sectors.

Mr. Orji highlighted the significance of stakeholder engagement in the Extractive Industries Transparency Initiative (EITI) process. He noted that the 2023 EITI standard requires all implementing countries, including Nigeria, to document their review of the EITI implementation impacts and outcomes in an APR or through other methods agreed upon by the Multi-Stakeholders Group (MSG).

This involves participation from all stakeholders, including companies, government, and civil society, to review the impact of EITI implementation and provide feedback for inclusion in the APR.

Mr. Orji explained that the program aims to incorporate stakeholders’ perspectives into the 2023 APR, aligning with global EITI requirements. The event also served to evaluate and celebrate the progress and achievements in Nigeria’s extractive sectors over the past year. He encouraged stakeholders to share their contributions to the sector so NEITI could report and celebrate them through the global EITI framework.

He stressed that the APR is a collective effort, not just the responsibility of the NEITI Secretariat. Documenting and celebrating progress and efforts is crucial to building trust, gaining citizens’ and investors’ confidence, and attracting investment into Nigeria’s extractive sectors and economy.

Faith Nwadishi, a former member of the EITI international board, expressed concern over the regular dissolution of the EITI board by successive governments. She noted that such actions could risk Nigeria’s suspension from the international body, although the board was eventually reconstituted.