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Nigeria NEITI transparency efforts

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2026-08-10 10:31 UTC → 2026-08-17 07:53 UTC · added removed

In late July 2026, Nigeria’s federal government highlighted its commitment to extractive‑sector openness by launching a three‑day joint retreat for the National Stakeholders’ Working Group and the Nigeria Extractive Industries Transparency Initiative (NEITI). Senior officials, including Senator George Akume and President Bola Tinubu, framed the 2026 EITI validation as a chance to deepen reforms, improve accountability, and attract investment. Senator Akume emphasized that the success of the validation exercise depends on “the extent to which transparency strengthens our institutions, builds investor confidence and restores public trust… for the benefit of the citizens.” The 2023 EITI Standard focuses on areas such as beneficial ownership, contract transparency, and anti-corruption. A few days later, Following this, the Senate Public Accounts Committee, chaired by Senator Ibrahim Hassan Dankwambo, opened a two‑day hearing Committee held hearings on 3 August to scrutinise scrutinize oil and gas revenue streams. The committee summoned the Nigerian National Petroleum Company Limited (NNPCL), the Central Bank of Nigeria (CBN), and various regulators to discuss revenue collection and statutory compliance streams based on NEITI’s 2021–2023 audit reports. By mid-August, global assessors from Following the EITI arrived in Nigeria for a validation mission scheduled conducted from 10 to 14 August 2026. The mission aims 2026, assessors commended Nigeria for improvements in systematic disclosures. Mission leader Riley Zecca noted that improved access to information allowed assessors to evaluate progress in with confidence, while EITI Africa Country Director Gilbert Makore highlighted the oil, gas, and mining sectors through consultations “unique engagement with government institutions, civil society, and extractive companies. NEITI Executive Secretary Musa Sarkin Adar described the mission National Assembly” as an opportunity to showcase Nigeria’s evidence of commitment to prudent resource management and identify further reform areas. inclusive dialogue. A draft validation report is expected to be shared with the NEITI Board within three weeks. After a one-month response period, the final report is scheduled to be presented at the EITI Global Conference in Brussels this October.

Versions

  1. 2026-08-17 07:53 UTC Nigeria NEITI transparency efforts
  2. 2026-08-10 10:31 UTC Nigeria NEITI transparency efforts
  3. 2026-07-31 07:17 UTC Nigeria NEITI transparency efforts

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