NEITI Begins Work 2022-2023 Industry Report.

The Nigeria Extractive Industries Transparency Initiative, NEITI has set a September target as the month to complete the process of putting together the 2022-2023 industry reports for the Oil, gas and mining sectors.

Executive Secretary of NEITI Orji Ogbonnaya announced this while briefing Journalists on the status of the Extractive Industries Transparency Initiative implementation in Nigeria.

He explained that the report on the Oil and Gas sector will focus on the Impact of the Petroleum Industry Act on domestic resource mobilization, while the theme of the Solid Minerals report is unleashing the potential of the solid mineral sector: assessing the Nigeria mining roadmap.

The Agency says it’s also working on establishing a Data Centre , which when completed, will serve as a repository of information and data on extractive and natural resource governance.

Orji ogbonnaya also noted that the agency is working on a policy brief that highlights the accurate data on the consumption of Premium Motor System in Nigeria before and after subsidy removal.

The NEITI boss says a draft amendment to the NEITI Act is ready and will be sent to the National Assembly as soon as the new Board approves it.

The agency said it has also developed a Corrective Action Plan to address issues identified in its validation report by the global Extractive Industries Transparency Initiative (EITI).

It said the corrective action plan had been shared with the EITI International Secretariat, outlining concrete steps to enhance Nigeria’s implementation of the EITI Standard.

A delegation from EITI International Secretariat had visited Nigeria in January to officially communicate the validation outcome to the government.