NEITI Plans Audit Remediation Roundtable

THISDAY
From Juliana Taiwo in Abuja

The Nigeria Extractive Industries Transparency Initiative (NEITI) is planning a roundtable meeting with key government agencies on firming up remediation efforts on the lapses identified in Nigeria 's petroleum industry by the first comprehensive audit of Nigeria 's petroleum industry.

In a statement by its Director of Communications, Waziri Adio, the audit commissioned by NEITI, covered the period 1999 to 2004 and was conducted by an international consortium led by the Hart Group of United Kingdom.

It said, to ensure that the identified lapses are fixed, a comprehensive remediation programme has been drawn up and approved. It covers five key areas: developing a revenue-flow interface among government agencies; improving Nigeria 's oil and gas metering infrastructure; developing a uniform approach to cost determination; building human and physical capacities of critical government agencies; and improving overall governance of the oil and gas sector. Detailed terms of reference and work-plans are expected from the roundtable. NEITI has also set up a strategy committee to evolve modalities for bringing its operations in line with its enabling law and to devise strategies for increased transparency in the management of oil, gas and mining revenues in Nigeria.

The committee was set up Tuesday night by the National Stakeholders Working Group, the governing board of NEITI, ...

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