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Sunday, June 23, 2024

Tinubu inaugurates the board of directors of NEITI

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President Bola Tinubu on Tuesday inaugurated the sixth National Stakeholder Task Force, also known as the Nigerian Extractive Industries Transparency Initiative (NEITI) Governing Board.

Inaugurating the 15-member committee, Tinubu said he was proud of the board with the members carefully selected, based on their diverse competencies, skills, knowledge, integrity and track record of service in their previous assignments.

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Represented by the Secretary to the Government of the Federation (SGF), George Akume, who also chairs the new NEITI Board, the President said prudent management of Nigeria’s resources was critical to the economic agenda and anti-corruption policies of this administration. .

Mr. Tinubu reaffirmed Nigeria’s commitment to the implementation of the global Extractive Industries Transparency Initiative (EITI) principles and standards in Nigeria.

“The current administration is passionate and remains fully committed to the global EITI, the work of NEITI and the visible impacts that the EITI process has achieved so far in Nigeria.

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“Nigeria is therefore irrevocably committed to the implementation of the EITI in the oil, gas and mining industries,” he said.

He said NEITI had demonstrated a high degree of competence, integrity and commitment to the values ​​that the country required to achieve economic growth and development in the sector.

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The president added that the effort was made through the availability of reliable information and data necessary for national planning and reforms.

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“As members of this board, your job is clearly and specifically to evolve the direction and oversight of strategic policies that support NEITI management and the secretariat to continue implementing its activities smoothly, without distractions or interference.

“It is also very important that the board supports NEITI to preserve its corporate values, remain focused and committed to its values ​​of transparency and accountability for the benefit of everyone here today and our future generations,” he said.

Addressing the Board shortly after the inauguration, Mr. Akume said his appointment demonstrated the rapid response of the federal government to the recent EITI assessment of Nigeria’s implementation of the initiative, which highlighted the need urgent to reconstitute the NEITI Board to avoid sanctions.

He said the new NEITI Council would take steps to address the outstanding issues raised by the EITI validation report, which the NEITI secretariat has already prepared a detailed corrective action plan for the Council to consider.

“This Board has the responsibility of understanding the issues and providing political support to the secretariat to successfully implement the plan. Nigeria scored 72 points in that global evaluation.

“And I am hopeful that Nigeria will score 100 points in the next validation scheduled for January 2026 under this Board and my presidency.

“We must support the ongoing independent audits of the industry, reforms in the oil and gas sector driven by the Petroleum Industry Act 2021, reforms in the solid minerals sector and proposed amendments to the NEITI Act “, said.

Earlier, Ogbonnaya Orji, Executive Secretary of NEITI, while expressing gratitude to the President for his approval for the inauguration, said the global EITI was also delighted with Nigeria’s decision to get a new board.

The 15-member NEITI Board also includes the Executive Chairman of the Federal Inland Revenue Service (FIRS), representing the government, while the Group Chief Executive Officer, Nigeria National Petroleum Company Limited (NNPC Ltd.), represents the National Company of Oil and Gas. .

The Board also has a representative from the Oil Producers Trade Section (OPTS), the Lagos Chamber of Commerce and the President of the Miners Association of Nigeria, representing the Extractive Companies (oil, gas and mining companies ), among other.

(YAYA)

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