OPEN OIL seeks NEITI’S collaboration on BENEFICIAL OWNERSHIP

Open Oil, an international firm based in Berlin, is seeking partnership and collaboration with NEITI in many areas. These include pushing boundaries of transparency and accountability through effective use of data, research and communication tools.

The Head of Research and Development, Dr Olumide Abimbola explained at a meeting with NEITI management and staff in Abuja, that Open Oil advances the idea of universal open frameworks for the world’s natural resources by building prototype applications from available data already in the domain. He explained that he was in Nigeria to seek opportunities to deepen the NEITI mandate in the implementation of EITI in Nigeria through collaboration with his organization. He announced that Open Oil has developed training methodologies for financial modelling which has proved successful with other EITI implementing countries such as Chad, Tanzania, Afghanistan and Mongolia. Under these arrangements, information and data involving major transactions in the oil, gas and mining sector in Nigeria can be provided in a customized web application called Aleph.

He expressed delight with the quality and scope of work so far done by NEITI in enhancing transparency, that are leading to reforms in the sector through the implementation of EITI standard including beneficial ownership. He pledged the support of Open Oil to build on the success that NEITI has so far recorded.

Responding, the Executive Secretary Waziri Adio, welcomed the interest of Open Oil to work with NEITI and gave an assurance to explore areas of mutual cooperation.

Following a presentation by Dr Olumide Abimbola, and an interactive session, NEITI resolved to explore the opportunities offered by the organization. These include designing a user friendly platform to implement disclosures on the beneficial owners of companies in Nigeria, transparency in contract processes, creation of a one stop information platform on people and events in the extractive sector.

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