Uganda and Nigeria pledge increased transparency in extractive industries

During the 10th Extractive Industries Transparency Initiative (EITI) Global Conference in Brussels, Uganda and Nigeria reaffirmed their commitments to transparency and accountability within their extractive sectors.

Uganda’s State Minister for Planning, Amos Lugoloobi, highlighted the country’s progress since joining the initiative in 2020. The Uganda EITI Report for Fiscal Year 2023/2024 revealed that companies disclosed approximately 261 million shillings in social expenditure. Notable contributors included CNOOC Uganda Ltd, which reported 198.66 million shillings in mandatory social expenditure and 300.16 million shillings in mandatory environmental expenditure.

Nigeria’s Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, pledged to deepen public disclosure, revenue reconciliation, and independent audits. Representing President Bola Tinubu, Ekpo stated that reforms aim to make petroleum revenues easier to trace and plug leakages. Nigeria intends to publish a progress update by the end of 2027 detailing the measurable improvements recorded under these reforms, building upon the statutory framework established by the Nigeria Extractive Industries Transparency Initiative Act of 2007 and the Petroleum Industry Act of 2021.