The Nigeria Extractive Industries Transparency Initiative (NEITI) says that the debt burden of the thirty six states of the federation has risen to over N3.342 Trillion as at 2016.

Lagos, Delta, Osun and Akwa Ibom topped the debt chart with a total debt profile of N1.262 trillion representing about 38% of debts owed by the 36 States of the Federation.

The break down shows that Lagos was indebted to the tune of N603.25 billion, Delta owes N331.95 billion, Osun and Akwa Ibom are indebted to the tune of   N165.91 billion and N161.23 billion respectively, as at 2016.

This information was contained in the third edition of NEITI Quarterly Review, a researched publication of Nigeria Extractive Industries Transparency Initiative which focused on Federal Accounts Allocation Committee (FAAC) disbursements in 2016.

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The NEITI NSWG has approved a 5 years strategic plan for the organization. The strategic plan sets policy direction for the NEITI from 2017 to 2021. The revised strategic plan provides basis for development of NEITI Annual work plans. In approving the strategic plan, the NEITI Board expects EITI implementation in Nigeria to focus on 4 strategic objectives. These include:

  1. Strategic Objective 1: Deepen openness in the extractive sector through timely audits and other impactful studies.
  2. Strategic Objective 2: Shape extractive sector and overall governance reforms through policy engagements, thought leadership and inter-agency coordination.
  3. Strategic Objective 3: Strengthen demand for accountability in the use of extractive revenues through strategic communication with critical stakeholders and empowerment of accountability actors.
  4. Strategic Objective 4: Increase operational capacity, legitimacy & support through effective financial, administrative and human resource management and adequate funding.

The strategic plan intends to address the gaps that have existed in the implementation of the first strategic plan (2012-2016) which focused on translating the NEITI mandate and operations into results that lead to visible impacts. The new strategic plan also put emphasis on strategic policy development, monitoring and evaluation.

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The Nigerian media has pledged commitment to the implementation of the EITI in Nigeria through balance reporting and engagement. This is one of the resolutions reached at the end of the three days capacity building for the media organized by NEITI in Nasarawa State. The media, represented by leading print and electronic news organisations welcomed NEITI’s intervention in the extractive industries and acknowledged ongoing reforms arising mostly from NEITI’s report findings and recommendations.

The media observed that a close look at NEITI’s previous reports shows that the restructuring of NNPC (seven big wins) and unveiling the roadmap for the solid mineral sector were part of NEITI’s remedial issues. The media urged NEITI to do more to sustain the reforms through regular exchange of information and data for proper interrogation and advocacy. The media however, called on NEITI to review the structure of its reports in terms of content, outlook and presentation to make them users friendly.

The present structure of NEITI reports; usually in big volumes full of graphs, tables and technical jargons, buries important information and fact and makes it difficult for the media to effectively engage in dissemination. It is therefore recommended that simplified versions of the reports are produced by NEITI and made available to the media as soon as the reports are released.

Declaring the workshop open, the Chairman of NEITI National stakeholders working group, Dr. Kayode Fayemi, described the capacity building as part of NEITI’s effort to build closer partnership with the media. The Chairman who was represented by Otunba Gbenga, the Chair of NSWG communications committee thanked the media for their valued contributions to the NEITI process.

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Civil Society Organizations have applauded NEITI’s rating by the global EITI on the recently concluded validation exercise.

Validation is an essential feature of the EITI process. It serves to assess performance and promote dialogue and learning at the country level, and safeguards the integrity of the EITI by holding implementing countries to the same global standard.

NEITI was among the countries recently subjected to the validation test by the global EITI. It ranked Nigeria in the ‘Meaningful Progress’ category. The global EITI remarked that Nigeria was exemplary in using the NEITI reports as key instruments, tools for reforms. It noted that the massive reforms in the Oil & Gas and Mining industry under Buhari’s Administration are directly linked to the NEITI Audit Report findings and recommendations over the years.

The meeting of the Civil Society in Kano, held at the Tahir Guest Palace in the ancient city was an opportunity for the CSOs working under the platform of the NEITI Civil Society Steering Committee to appraise the country’s performance.

“The CSOs observed that the EITI validation report in Nigeria revealed that the country made meaning progress in the implementation of EITI standards. The civil society however expressed concerns that given Nigeria’s ranking as the best implementing country in 2013, they expected more. They called for closer cooperation and partnership with the civil society in the implementation of the standard and remedial issues in the NEITI reports for the country to improve on its current ranking.

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Abuja March 16, 2017. The Federation Accounts Allocation Committee (FAAC) disbursed N5.12 trillion to the three tiers of government in 2016 as against the N6.01 Trillion shared in 2015. The figure is 15% short of disbursements in 2015 alone and over 40% less than the aggregated disbursements to the three tiers of government in Nigeria between 2013 and 2016.

These information and data were contained in the latest NEITI Quarterly Review; “FAAC Disbursements in 2016: Review and Projections” released by the Nigeria Extractive Industries Transparency Initiative (NEITI). 

The Review which is the third in the series, focused on disbursements from the federation account to the Federal, States and Local Governments. It also appraised the internally generated revenues of the states in 2016 and capacity to fund budgets.

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The Nigeria Extractive Industries Transparency Initiative (NEITI) is set to establish an Open Contracting Data Standard platform for procurement of goods and services. The online platform is to provide comprehensive public information and disclosure on all procurement opportunities and contracting information by NEITI to the general public.

This decision by NEITI is consistent with President Muhammadu Buhari’s commitment to agreements reached at the Anti-Corruption Summit held in London in 2016.

At the Summit, President Buhari had declared; “We will work towards full implementation of the principles of the Open Contracting Data Standard, focusing on major projects as an early priority. We will apply the Open Contracting Data Standard to the following major projects; Development of Refineries in the oil Sector; Building of Health Centres and Improvement of Health Services; Building of Roads and other Infrastructures; Building of Schools and Improving Transparency in the Management of Education Funds and Investment in the Power Sector.’’

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The Nigeria Extractive Industries Transparency Initiative (NEITI) has identified Nigeria’s membership of Open Government Partnership as a timely platform to push for disclosure of beneficial owners of companies in the oil, gas and mining industries in the country.

The Executive Secretary of NEITI, Mr. Waziri Adio stated this while addressing a Consultative Forum on Open Government Partnership (OGP) in Abuja.

“Knowing how much companies paid in the form of taxes, royalty, rents etc. and how much government received is important, but not enough. Knowing those who are the real owners of the companies is critical to checking corruption, money laundering, drug and terrorism financing, tax avoidance and evasion,” Mr. Adio added.

Mr Adio called on the Federal Government to enact a special legislation that will compel companies in the extractive sector to make public the names and identities of their real owners.

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