• Despite COVID19, 68% of covered entities scored 100%
The Nigeria Extractive Industries Transparency Initiative (NEITI) has commended companies and government agencies covered by its 2019 oil and gas industry audit exercise for improved compliance in their submission of the audit templates used for data gathering.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has stressed the need for urgency in the consideration and enactment of a new petroleum industry legislation for Nigeria, considering the constantly changing circumstances and uncertainty surrounding the oil and gas sector globally.
The assent by President Muhammadu Buhari recently to the amended Companies and Allied Matters Act (CAMA), 2020 has finally laid to rest the issue of legal framework for the implementation of beneficial ownership transparency in Nigeria.
The network of the civil society, the media, rights groups, and community based organisations, CONTRANET has called on NEITI, the Federal Ministry of Petroleum Resources, Federal Ministry of Mines and Steel Development, NNPC, Mining Cadastre Office, CSOs and other stakeholders to work together to develop and adopt a Framework on the implementation of contract transparency in the extractive sector in Nigeria.
The current resolve and push by the group of extractive companies spearheaded by Shell, Eni, BHP and Rio Tinto for country by country tax reporting may be the needed impetus to scale up tax transparency and the eventual improvement in tax payments from the extractive sector to producing EITI member nations.
In recognition of the importance and critical role of human resources in the achievement of overall goals of any organisation, the Nigeria Extractive Industries Transparency Initiative (NEITI) organized a 2-day virtual training for its staff on performance management.