The 4th NEITI Board Bows Out, Celebrates Achievements

The curtain on the 4th NEITI Board, under whose tenure Nigeria attained Satisfactory Progress in the EITI ranking, was drawn to a close when it bowed out on Tuesday, 4th of February 2020.

The NEITI Board, otherwise known as the National Stakeholders Working Group (NSGW), will be remembered for the milestone achievements it recorded in its four years of overseeing the affairs of NEITI. For example, during the tenue of the board:

(a) NEITI Successfully conducted and published the second cycle of Fiscal Allocation and Statutory Disbursement (FASD) audits covering the period 2012-2016.

(b) NEITI Initiated the establishment of a Joint Committee between NEITI and the NNPC to identify, among others, remedial issues from the audit reports, prioritize them and develop a Roadmap for implementation.

(c) NEITI published 14 Quarterly Reviews, five Policy Briefs and six Occasional Papers Series. These tools are instruments for robust engagements to positively shape reforms and policy actions in the extractive industry through impactful studies, scholarly publications, thought leadership, and strategic communication.

(d) Nigeria, through NEITI, became the only country in Africa, Asia and the Americas to join the elite club of United Kingdom, Netherland, Denmark, and Ukraine to develop and launch a publicly accessible Beneficial Ownership Register for extractive industries. The Register launched on December 12th, 2019 captures those extractive industries covered by NEITI audit reports. The register was part of the fulfillment of Nigeria’s obligation to the global EITI and Open Government Partnership (OGP).

(e) Automation of NEITI data collection and mainstreaming of the EITI reporting process were initiated. The goal is to make the reports timely, accessible and user-friendly in line with NEITI’s open data policy. The automation project when completed will also bring down the cost of the audits, make the process easier, faster, efficient and reduce human interference. Work is currently on-going on this project.

Besides, the former NSWG provided leadership to NEITI in conducting first ever pilot study of Commodity Trading and published a special report on this in 2019. The report focused on the sale of Nigeria’s share of crude oil and gas produced in 2017.

Satisfactory Progress is the highest ranking that countries implementing the Extractive Industries Transparency Initiative (EITI) Standard can attain.