The Executive Secretary, Nigeria Extractive Industries Transparency Initiative, NEITI, Dr Orji Ogbonnaya Orji, Wednesday, disclosed its audit of the oil and gas industry for 2022 and 2023 would go beyond just the reconciliation of revenues paid to the government to include processes for licensing and contract awards in the sector.
Dr. Orji who disclosed this to journalists in Abuja, said the audit reports which would be ready by September this year would include disclosures on regulatory framework for the sector as well as disclosures on production and export levels, and comprehensive information on NNPC Limited participation in the sector.
He said: “NEITI has commenced and made very good progress with the conduct of the 2022-2023 industry reports of the oil, gas and mining sectors. Two indigenous independent Administrators are conducting the exercise. They are Haruna Yahaya for the Solid Minerals report and Adeshile Adedeji & Co for the conduct of the oil and gas report. We have also set September, 2024 as the date for the completion of the reports.
He said the NEITI was carrying out a study of the downstream sector to determine the quantity of petrol actually consumed in the country before and after the deregulation of the product last year. On the recent appointments into NEITI’s Multi-Stakeholders Working Group , Dr. Orji explained that the board is made up of 15 members with the Secretary to the Government of the Federation, as its chairman.
The representative of the Civil Society Organisations is still being awaited and would be announced after the selection process put in place by the CSOs is concluded.He stressed that Nigeria is in the process of implementing the corrective actions recommended by the global Extractive Industries Transparency Initiative, EITI, in the last validation exercise, noting that the issue on the dissolution of its board has now been corrected.
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