NEITI, Oil Producers Partner On Transparency, Accountability

The Nigeria Extractive Industries Transparency Initiative and the Oil Producers Trade Section, have met with oil firms and miners over how to enhance transparency and accountability in the nation’s oil and gas and solid minerals sectors.

Convened in Lagos by the OPTS, the forum, which was attended by the NEITI team led by its Executive Secretary and Chief Executive Officer, Dr Orji Ogbonnaya, had representatives from Oando Plc, Platform Petroleum, ND Western and the National President of Miners Association of Nigeria, Dele Ayanleke, amongst others.

Speaking at the event, Ogbonnaya explained that the NEITI-Companies Forum was a veritable platform through which the agency helps the country and the operating companies to comply with the global Extractive Industries Transparency Initiative.

He stressed that participation at the highest level of EITI process was compulsory, assuring that NEITI would work with OPTS to deepen and strengthen the Companies Forum, which he said witnessed a drawback due to the Covid-19 pandemic.

He explained that the forum was put together to create opportunity for companies to scrutinise the work of NEITI, ask questions where necessary and seek clarifications without having to write letters, and understand their jobs as members of the forum.

According to him,  companies’ participation in EITI’s activities had implications on the corporate reputation of the companies globally, adding that NEITI was that review mechanism on how to adhere to transparency, accountability and good governance.

Rather than take actions or make comments that would damage companies’ reputation, Ogbonnaya said NEITI was mainly set up to encourage and create an enabling environment for companies to do their businesses.

Earlier in his opening remarks, the Executive Director of OPTS, Gwueke Ajaifia, said his organisation had been discussing with NEITI on how to strengthen the Forum, engage with the key stakeholders in all the companies and ensure that the next forum records larger attendance.

He said NEITI was important to every stakeholder in Nigeria owing to the data and information it releases which helps Nigerians to understand what happens with the nation’s extractive resources.