FG Mandates NEITI Board to Focus on Diversification, Raised Investment Inflows

Peter Uzoho

The federal government has charged the new Board of the Nigeria Extractive Industries Transparency Initiative (NEITI), to refocus its attention on impacts derived from the priorities of the present administration.

The government listed the priorities as economic growth through diversification, increased investment inflows and competition built on extractive sector reforms and the Nigerian citizens.

Secretary to the Government of the Federation (SGF) and Chairman of the NEITI Board, Senator George Akume, gave the charge on day two of the ongoing retreat for the members of the NEITI Board in Lagos.

In a statement by the Deputy Director/Head, Communications and Stakeholder Management, NEITI, Mrs Obiageli Onuorah, the SGF stated that the theme of the retreat, “From Reports to results built on Impacts” situated the expectations of President Bola Tinubu from the present NEITI Board.

He specifically said the president’s expectations were for NEITI to forge a new policy and strategic direction where it could use its reports, findings and recommendations to drive reforms in Nigeria’s extractive sector for the benefit of Nigerians and in support of government efforts in growing the sector.

Akume’s keynote address, according to the statement, was presented by his representative and former Permanent Secretary, General Services Office in the Presidency, Mr. Olusegun Adegunle.

The SGF pointed out the importance for the NEITI Board to guide the agency to play a “Leading role in supporting Nigeria to navigate through the grave challenges that oil theft and illegal bunkering had imposed on our economy and the consequences to our environment through our public value addition by providing informed policy direction.

“We must therefore help to build a NEITI process that provides accurate, adequate and timely information and data to guide this Administration’s policy making choices in the oil, gas and mining sectors and support policy decisions to institutionalize transparency and accountability mechanisms in Nigeria’s extractive sector for the benefit of all.”

In his remarks, Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, reiterated the resolve of the Board to support government by aligning the agency’s mission of fostering transparency and accountability in Nigeria’s extractive industries with the yearnings of Nigerians for impacts within the country’s contextual reality and its international obligations.

“This retreat has been structured as an induction programme that will expose us to the mandates and operations of NEITI and why we are unique, peculiar and different from other agencies of the Federal Government,” Orji reiterated.