Nigerian President Bola Tinubu has inaugurated the Governing Board of the Nigeria Extractive Industries Transparency Initiative (NEITI),Energy News Africa reports.
In his remarks at the inauguration of the 15-member committee, Mr. Tinubu expressed pride in the board, noting that its members were chosen based on their diverse competencies, skills, knowledge, integrity, and track record of service. The president, represented by Senator George Akume, Secretary to the Government of the Federation (SGF) and chair of the new NEITI Board, emphasized the importance of prudent resource management to his administration’s economic agenda and anti-corruption policies.
Mr. Tinubu reaffirmed Nigeria’s commitment to the principles and standards of the global Extractive Industries Transparency Initiative (EITI). He stated, “The present administration is passionate and remains fully committed to the global EITI, the work of NEITI, and the visible impacts which the EITI process has achieved so far in Nigeria. Nigeria is therefore irrevocably committed to the implementation of EITI in the oil, gas, and mining industries.”
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The president highlighted NEITI’s competence, integrity, and commitment to transparency and accountability, noting that these qualities are crucial for achieving economic growth and development in the sector. He emphasized the importance of reliable information and data for national planning and reforms.
“As members of this board, your job is to evolve strategic policy direction and oversight that supports NEITI Management and the Secretariat to continue implementing its activities smoothly without any distractions or interference. It is also very important that the board supports NEITI in preserving its corporate values and remaining focused on transparency and accountability for the benefit of all present and future generations,” he said.
Following the inauguration, Senator George Akume stated that his appointment reflected the Federal Government’s prompt response to a recent EITI assessment, which stressed the need to reconstitute NEITI’s Board to avoid sanctions. He noted that the new NEITI Board would address outstanding issues raised by the EITI validation report, with a detailed corrective action plan already prepared by the NEITI Secretariat.
“This Board has the responsibility to understand the issues and provide policy support to the Secretariat to successfully implement the plan. Nigeria scored 72 points in that global assessment. And it is my hope that Nigeria will score 100 points at the next validation due in January 2026 under this Board and my chairmanship. We must support ongoing independent audits of the industry, reforms in the oil and gas sector driven by the Petroleum Industry Act 2021, the reforms in the solid minerals sector, and the proposed amendments to the NEITI Act,” he said.
Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, expressed gratitude to the president for approving the inauguration and noted that the global EITI was pleased with Nigeria’s decision to establish a new board.
The 15-member NEITI Board includes the Executive Chairman of the Federal Inland Revenue Service (FIRS), representing the government, and the Group Chief Executive Officer of Nigeria National Petroleum Company Limited (NNPC Ltd.), representing the national oil and gas company. Other members include representatives from the Oil Producers Trade Section (OPTS), the Lagos Chamber of Commerce, and the President of the Miners Association of Nigeria, representing extractive companies (oil, gas, and mining companies), among others.
