The Federal Government has identified Nigeria Extractive Industries Transparency Initiative (NEITI) as a government funded agency that has demonstrated professionalism, courage, competence and integrity in the discharge of its responsibilities.
The Secretary to the Government of the Federation, Engineer Babachir David Lawal stated this in Abuja while receiving the Executive Secretary and Management of NEITI in Abuja.
He explained that NEITI independent reports and bold pronouncement on the need to enthrone transparency and accountability in the oil, gas and mining sector has been responsible for the current effort to reform the sector.
The Secretary to the Government of the Federation advised NEITI to remain resolute, ready and willing to provide useful information and data that will help the current efforts to rid the industry of corrupt practices.
The Executive Secretary, Mrs. Zainab Ahmed used the visit to provide highlights of the key issues disclosed by NEITI in the Reports.
She expressed delight that the present administration has demonstrated commitment to implement the findings and recommendations in NEITI Reports ignored over the years. The visit was to enable NEITI acquaint the SGF with the mandate of NEITI, its principles, operations and benefits to the economy.
The visit provided opportunity for NEITI to present its positions to the SGF on major areas that require reforms in the oil gas and mining industries, this include the management of domestic crude allocations the fuel subsidy regime cash call payments and Nigeria‘s interest in the joint venture .
Other areas covered by NEITI’s presentation were the issue of remittance of Nigeria Liquefied Natural Gas (NLNG) dividends to the Federal account, the need to review expired MOU and legal agreements with oil companies and the sale of the countries equity shares by NNPC to NPDC as well as the concerns over inadequate infrastructure for measurement of crude.
On Solid Minerals, NEITI used the opportunity to renew its call for diversification of the economy towards the development of the Solid Minerals sector. The meeting underlined the need for implementation of NEITI recommendations on this issues as part of the as part of the comprehensive industries under the new administration.