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NEITI Commences Audit Of Oil, Gas Sector
The Nigerian Extractive Industries Transparency Initiative (NEITI), yesterday, said it had commenced a comprehensive independent audit of the nation’s oil and gas sector that would cover the periods of 2015 and 2016.
The Executive Secretary of NEITI, Mr Waziri Adio, announced this in Lagos at a workshop organised for major oil companies in Nigeria.
Adio said that the independent audit was in line with the principles and standards of the global Extractive Industries Transparency Initiative (EITI).
According to him, relevant government agencies are expected to participate in the exercise.
He said that the workshop was designed to acquaint participants with the structure and content of the template, the kinds of questions that NEITI would ask and answers expected to be provided by the covered entities.
“This workshop is to seek your views, suggestions and inputs as well as listen to your concerns on how to make the exercise hitch-free,’’ Adio added.
The workshop witnessed presentations on the EITI processes, methods, principles and standards including emerging issues on beneficial ownership and contract transparency.
The benefits of implementing EITI in Nigeria also topped discussions at the interactive session.
The executive secretary announced that NEITI would introduce a ranking reward system to incentivise participation of covered entities.
He said in the ranking system, companies would be graded based on their efficiency in populating the audit templates such as the quality, depth of information, data provided and quick response to set deadlines.
Adio explained that the system would be shared with over 51-member countries of EITI and multi-lateral organisations, to serve as reference points on adherence to business ethics for major investment decisions in Nigeria.
“NEITI is committed to working closely with the companies under the EITI framework to create good business environment that is conducive for the inflow of more foreign direct investments into the extractive sector.’’
“For this to happen we encourage all companies to embrace transparency, accountability and corporate governance in conformity with the EITI standards,” he remarked.
Adio, however, warned that NEITI would not hesitate to invoke relevant sanctions under the law on companies and other covered entities that failed to cooperate with it during the exercise.
All major international oil and gas companies operating in Nigeria were represented at the Workshop.
The event was also attended by a cross section of the media and the civil society.
While reviewing the templates, the representatives of the various companies welcomed the objective of the workshop, describing it as a fundamental step in building partnerships and trust with NEITI in the execution of its mandate.
They urged NEITI to note carefully their observations and the issues they had raised at the workshop.
The representatives said that this was to ensure that the reviewed template suited the peculiar operations of the diverse covered entities slated to participate in the process.
The Governor of Rivers State, Sir Siminalayi Fubara, has begun the celebration of Nigeria’s 65th Independence anniversary with a Juma’at service where prayers were offered for the progress of the state and Nigeria.
Governor Fubara, who advocated for peace and unity of Nigeria during the prayers on Friday at the Rivers State Central Mosque, Port Harcourt, indicated that without peace, the accelerated development of Nigeria will remain in a limbo.
Governor Fubara, who was represented by Alhaji Abdurrazaq Diepriye, therefore urged citizens to remain patriotic.
According to him, “Allah has brought us this far. Without peace, we can not have progress and economic development. I call on all citizens irrespective of creed or tribe to remain patriotic.”
He thanked President Bola Tinubu for restoring peace in Rivers State while also using the forum to appreciate security agencies for their relentless effort in upholding the peace and unity of Rivers State and Nigeria.
The Chief Imam of Rivers State Central Mosque, Imam Ibrahim Yaloo, admonished Moslem faithful to always speak the truth, adding that those who obey Allah will be directed to good deeds and their sins forgiven.
Prayers were offered for Rivers State and Nigeria.
Other activities to mark the 65th Independence anniversary in the state include an Inter-denominational Church Thanksgiving Service on Sunday, 28th September and Parade Ceremony on Wednesday, 1st October.
Vice-President Kashim Shettima departed New York on Sunday after representing President Bola Tinubu at the 80th session of the United Nations General Assembly.
In a statement released on Sunday by the VP media aide, Stanley Nkwocha, the Vice President is now headed to Germany, where he will hold strategic meetings with officials of Deutsche Bank.
The statement read, “Vice President Kashim Shettima has departed New York, United States, after successfully representing President Bola Ahmed Tinubu, GCFR, at the 80th Session of the United Nations General Assembly.
“During his participation at UNGA 80, VP Shettima secured UN Secretary-General António Guterres’ commendation for Nigeria’s bid for a permanent UN Security Council seat.
“He also showcased Nigeria’s $200 billion energy transition opportunity to global investors and strengthened strategic partnerships with the UK on trade, defence, and migration issues.”
Nkwocha added that the VP delivered Tinubu’s national statement, calling for UN reforms and a permanent seat for Nigeria at the UN Security Council, and “demanded Africa’s control over its $700 billion mineral wealth, and digital inclusion initiatives.”
“He also engaged with the Gates Foundation on healthcare and education expansion, positioning Nigeria as the natural hub for the African Continental Free Trade Area’s $3.4 trillion market.
“VP Shettima was seen off at John F. Kennedy International Airport, New York, by cabinet Ministers who were part of the UNGA 80 delegation and Nigerian Mission officials.”
The aide noted that Shettima will return to Nigeria immediately after his engagements in Germany.
The Tide source recalls that the VP departed Abuja, yesterday.
He led other Nigerian officials at the Assembly.
As part of Nigeria’s 65th Independence anniversary celebration, the Federal Government held a special thanksgiving service on Sunday at the National Ecumenical Centre in Abuja to offer prayers and give thanks for the nation.
The event drew top government officials and security chiefs, including Senate President Godswill Akpabio and Secretary to the Government of the Federation, George Akume, as well as their spouses.
Other notable guests included Finance Minister and Coordinating Minister of the Economy Wale Edun, former Plateau State Governor, Senator Simon Lalong, and the Chief of Defence Staff, General Christopher Musa, who led the service chiefs in attendance.
Service chiefs present included the Chief of Naval Staff, Vice-Admiral Emmanuel Ogala, Inspector-General of Police Kayode Egbetokun, Comptroller-General of the Nigerian Immigration Service, Mrs Kemi Nandap and Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, among others.00
The service came days after the government unveiled the official theme and some of the activities slated for the 2025 Independence celebrations.
This year’s anniversary is tagged “Nigeria @ 65: All Hands on Deck for a Greater Nation,” as announced by the Director of Information and Public Relations at the Office of the Secretary to the Government of the Federation, Segun Imohiosen, in a statement on Wednesday.
“As part of activities to mark the 65th Independence Anniversary, the Juma’at Prayer and the Inter-Denominational Church Service will be held on Friday, 26th September at 1 pm and Sunday, 28th September at 10 am respectively, as well as the World Press Conference on Monday, 29th September at 10 am,” he said.
The Tide source had earlier reported that President Bola Tinubu, alongside former Heads of State, Yakubu Gowon, Olusegun Obasanjo and Goodluck Jonathan, is expected as a special guest at a national discourse convened by the Island Club, Lagos, to mark Nigeria’s 65th Independence Anniversary.
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