Nigeria has reaffirmed its commitment to the implementation of the global EITI.
President Muhammadu Buhari made the commitment while addressing the 71st session of the UN General Assembly recently in New York. He explained that Nigeria voluntarily signed up to the EITI with a conviction that there was no better option for a resource rich country than to embrace transparency and accountability in the management of revenues accruing from its natural resources.
“Nigeria remains committed to the Extractive Industries Transparency Initiative (EITI), a global coalition which promotes transparency and accountability in the management of revenues from the oil, gas and solid minerals sectors. We voluntarily signed up to EITI because we are convinced that transparent governance is an imperative for resource-rich developing countries like ours.”
The President announced to the General Assembly that the work NEITI has done, has reconfirmed that Nigeria’s faith in the EITI is not misplaced.
“The National EITI has been empowering citizens with critical information they can use to hold government and other players in the extractive industries to account, and make recommendations that drive reforms in these strategic sectors of our national life.”
He explained that for Nigeria, the anticorruption summit held in London in May this year provided strong global commitment to fight corruption and hold the perpetrators to justice.
“Nigeria supports the development of an international legal framework to enforce anti-corruption measures and strengthen existing international institutions to effectively deal with corrupt practices.”
President Muhammed Buhari announced that Nigeria’s commitment to fight corruption is already yielding positive results including significant recovery of stolen assets.
The President gave the assurance that the recovered funds are been channeled towards development of social infrastructure and implementation of social inclusion programme for the citizens.
He added that his administration is currently strengthening the capacities of government entities to institutionalize reforms to improve the quality of governance.
President Buhari’s address to the UN is his second since assumption of office in May,2015.