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Sunday, February 14, 2016
Nigeria is in danger of losing its spot in the global Extractive Industries Transparency Initiative (EITI). The EITI has warned the government that it has significantly risked its suspension from the body if it does not publish its 2013 edition of its oil, gas, and solid minerals industries audit report by the end of the month. The risk is real as the country was expected to submit the report by the end of 2015.
The Nigerian Extractive Industries Transparency Initiative (NEITI) said the absence of the National Stakeholders Working Group board, NSWG, which is yet to be reconstituted by President Muhammadu Buhari has held up its submission.
The board was to sign off on the audit report, however, Buhari had, along with other federal boards, dissolved the NEITI in October 2015 causing delays which could suspend its EITI compliance status and hurt future investments in its petroleum sector.
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