NEITI To Present 2009-2011 Oil, Gas Audit Report

The Nigeria Extractive Industries Transparency Initiative (NEITI) will on Monday formally present to the public the 2009 to 2011 comprehensive audit report of the oil and gas sector.

A statement issued on Sunday in Abuja by NEITI’s Director of Communications, Dr Orji Ogbonnaya Orji, said the audit report for the solid minerals sector for between 2007 and 2010 would also be presented.

It added that recommendations from the comprehensive audits of the extractive Industries would be made available to a cross section of stakeholders.

The statement said that the audit was to establish revenue flows and quantity of production as well as appraise the governance processes in the sector.

“A comprehensive report on companies’ payments and government’s receipt, institutional and governance issues in the industries will also be made public,” it said.

The statement said that eminent personalities including the Minister of Finance, Dr. Ngozi Okonjo Iweala, legislators, donor agencies and civil society groups were expected at the occasion.

It would be recalled that Nigeria voluntarily signed up to the global Extractive Industries Transparency Initiative (EITI) in 2003.

Nigeria established NEITI in 2004 and supported the initiative with a law in 2007.

NEITI was set up to enthrone transparency and accountability in the management of Nigeria’s extractive industry revenues.