Nigeria on course with oil audit validation, says NEITI

…2013 oil, gas, solid minerals audit reports ready
Nigeria Extractive Industries Transparency Initiative (NEITI) has confirmed that Nigeria may not default afterall, over the December deadline for publishing of its new 2013 Oil, Gas and Solid Minerals audit reports.

Specifically, the NEITI said the two reports are ready and awaiting the approval of the incoming National Stakeholders Working Group expected to be reconstituted soon, before they are formally released and published.

The global body, Extractive Industries Transparency Initiative (EITI) had given a December 31st, 2015 deadline for Nigeria to publish these reports, but the Acting Director Communications, , in a statement, said NEITI has filed a request for extension of reporting deadline and the request is receiving the needed attention by the global EITI, therefore ‘Nigeria is not in violation of any EITI reporting deadline’.

She added that the EITI is currently reviewing the validation process and modalities following divergent views by multi-stakeholders involved in the process. This includes the civil societies, implementing countries and the investors.

“At various meetings held by the implementing countries in Malabo, Equatorial Guinea, Yamoussoukro, Cote d’Ivoire and recently Dakar, Senegal the implementing countries agreed to present before the EITI Board, that the validation process should be reformed to make it country specific, implementation friendly, progressive and promote country learning experiences and ownership.

“The Civil Society, Investors and supporting countries equally have their separate views on how the validation process should be conducted in order to achieve the desired impact. In view of this, the EITI has put in place a Committee that is examining these views and interests with a view to harmonizing them.” she said.
Meanwhile, the former Prime Minister of Sweden, Mr Fedrik Reinfeldt is set to take over as the new Chair of the EITI.

Reinfeldt election held recently at the 31st International Board Meeting held in Kiev, Ukraine is to be ratified in February at the 7th global Conference slated for Lima, capital of Peru.

The election of the former Swedish Prime Minister followed the successful completion of tenure by Clare Short, a former Member of the British House of Commons who has led the 50 Member world body in the last four years.

In recognition of Nigeria’s strategic position in the EITI globally and the on-going bold reforms being embarked upon by President Mohammadu Buhari in the fight against corruption which the EITI has publicly endorsed. The out-going Chair, Clare Short planned to visit Nigeria on a farewell visit to consult with President Buhari on the need to strengthen EITI implementation in Nigeria by NEITI.

The visit will also provide the global Chair the opportunity to share views with the President to convey to the President, the EITI support on the on-going war against corruption in Nigeria.

The visit is also an opportunity to share with the President, global experiences on how the EITI framework can be used as a tool to fight corruption and reduce poverty in resource rich countries like Nigeria.

Clare Short plans to visit Nigeria with the incoming Chair and former Prime Minister of Sweden Fedrik Reindfeldt, during the visit the two world leaders will hold consultations with top government, public and private sector executives, representatives of extractive industries, companies, the media and the Civil Societys.

The Acting Executive Secretary, NEITI Dr Orji Ogbonnaya Orji, described the out going Chair as an asset to the EITI and close friend of NEITI who has used her position to advance the NEITI implementation in Nigeria.

Orji expressed hope that the coming of the out going and in-coming Chair to Nigeria will strengthen NEITI’s comprehensive plan to align its mandate in natural resource governance with the on-going reforms in the sector by the present administration. The team is expected in Nigeria as from the 7th of February, 2015.

Mr Reinfeldt an economist cum politician is a native of Stockholm. He was born in 1965 and became the Prime Minister of Sweden in 2006. The new EITI Chair was the former Chairman of the Liberal Conservative Moderate Party and the last rotating President of the European Council in 2009.