The Nigeria Extractive Industries Transparency Initiative (NEITI) Bill was signed into law on 28 May 2007 by former President Olusegun Obasanjo. This gives legal teeth to the quest for increased transparency in the management of Nigeria’s oil, gas and mining sectors.
“The passage and signing of this bill represent a landmark opportunity for extractive resources to serve as a catalyst for growth, equity and development in Nigeria,” says Dr.
Siyan Malomo, chairman of the National Stakeholders Working Group, NEITI’s governing board.
“This is a major step towards institutionalizing transparency and accountability in Nigeria”