Nigeria scores impressively high in EITI assessment

Efe IseghohimeDecember 5, 20232 min
Nigeria scales the EITI Global Assessment

Nigeria’s highly successful scaling of the EITI global assessment is a true testament to NEITI’s hard work

Nigeria has successfully scaled through the final global assessment of the Extractive Industries Transparency Initiative (EITI).

With high scores reaching 90 on data integrity, comprehensiveness of report, outcomes and impacts, contribution to economic growth and adherence to legal frameworks, Nigeria made an overall score of 72, according to a statement released by the Nigeria Extractive Industries Transparency Initiative (NEITI).

The statment explained that the EITI arrived at the overall score on the average of component scores on stakeholder engagement, transparency, and outcomes and impact.

READ ALSO: Gas will play role in Nigeria’s energy transition – NEITI

Despite hitting 92 points on outcomes and impact, which can be proudly ascribed to NEITI’s robust system for annual work planning, monitoring and evaluation, Nigeria achieved a very low component score of 52.5 on stakeholder engagement.

In reacting to the stakeholder engagement score, Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, expressed regret that the absence of Nigeria’s National Stakeholders’ Working Group (NSWG) as required by the EITI Standard to provide oversight over the sector, adversely affected Nigeria’s overall performance in the international assessment. Dr. Orji further renewed the call for the reconstitution of the NSWG uregently.

READ ALSO: NNPCL, 47 other companies owe FG $9.85bn – NEITI Report

The EITI board also applauded the visible and tangible impacts of NEITI in leading extractive industry reforms and governance in the oil, gas and mining sectors.

Dr. Orji stated that the global EITI’s endorsement of Nigeria’s comprehensiveness and data integrity is very important for the work the agency is doing in Nigeria given the importance of credible information and data to support planning and national development.

“NEITI remains fully committed to outcomes and impacts that translates to visible results that shape the ongoing reforms which will guarantee more revenues for government through the blocking of leakages to improve the lives of Nigerians” the Executive Secretary added.

The organization further stated that other areas for improvement are priority attention to the development of the solid minerals sector, expanding beneficial ownership disclosures and all other emerging issues in the extractive sector as outlined in the EITI Board assessment for improvement.

The Executive Secretary reiterated NEITI’s promise to continuously work closely and deepen engagements with the government, civil society and extractive companies to mobilise more work towards addressing the areas that need improvement as highlighted in the report.

The next global EITI Assessment of Nigeria has been scheduled for 1 January 2026, during which it expects that all corrective actions recommended in the current assessment should have been strengthened.

Efe Iseghohime

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