WORLD BANK PLEDGES SUPPORT TO NEITI

The World Bank Country Director for Nigeria, Africa Region Marie Francoise Marie-Nelly has paid a courtesy call on the new Chair of NEITI Ledum Mitee with a promise to assist the agency meet some of its challenges.The Country Director was at the NEITI Secretariat in company of the Lead Economist John Litwack, the Procurement Consultant Chief Bayo Awosemusi, and Amanda Lumun Feese, the Extractive Industries Specialist, all of the World Bank Country Office Abuja.

The Country Director promised to specifically assist NEITI in the conduct of a Scoping Study on the extractive revenue streams to the various tiers of government from the Federation Account .This study becomes very imperative in view of NEITI’s determination to urgently conduct a resource allocation , disbursement and utilisation audit in 2013.The Bank will also consider the request of NEITI to assist in the conduct of a study on the metering infrastructure in the oil and gas sector; the lack of an authentic study in this regard has deprived the nation of huge revenues in taxes and royalty calculations.

Other areas of support promised by the World Bank include the provision of a strategic analysis of NEITI’s 2009-2011 oil and gas industry report to be released shortly and collaborating with NEITI to see that the Inter-Ministerial Task Team (IMTT) undertakes measures to resolve several pending remediation issues contained in NEITI audit reports.

The NEITI Chair, in company of the Executive Secretary and other management staff expressed gratitude to the Country Director and her team for the visit and assured them of NEITI’s full cooperation.

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