Oil, gas and mining sectors stakeholders converge on Abuja for a special Conference on resolving outstanding remedial issues identified by the independent industry audit reports of Nigeria Extractive Industries Transparency Initiative (NEITI) over the years.
The Conference, slated for 29th October 2018 is expected to attract over 150 participants drawn from governments, extractive companies, civil society leaders, media, and development partners.
Experts across the extractive industries value chain have been assembled to review the status of NEITI’s remediation issues, evolve strategies, set new targets and define next steps.
The Conference will also examine how to strengthen current remediation mechanism to yield the desired impacts. The Executive Secretary of NEITI, Mr. Waziri Adio will deliver the keynote address.
Specific issues to be discussed include pending remittances and recoverable revenues from oil and gas sector to the Federation Account, outstanding debt owed by oil and gas companies, among others.
NEITI is convinced that resolving the outstanding remedial issues in its independent audit reports will contribute significantly in deepening the ongoing reforms in the oil, gas and mining sectors, improve investment climate in the sectors and increase revenues inflows to government coffers.
Remediation, a process in which gaps identified in the NEITI’s reports are addressed, is one major challenge being faced currently by NEITI. Federal government’s response by constituting an Inter-Ministerial Task Team (IMTT) with mandate to promptly address remedial issues from NEITI reports have not adequately solved the problem.
Dr. Orji Ogbonnaya Orji,
Director, Communications and Advocacy.