House of Representatives Takes Steps to Fulfill Mandate-Empowering NEITI
Nigeria’s House of Representatives has announced that, as part of its legislative agenda, it has garnered the partnership, support, and commitment of over 70 lawmakers as co-sponsors for critical bills aimed at reviewing certain provisions of the Nigeria Extractive Industry Transparency Initiative (NEITI) Act.
The move suggests an effort by the House to undertake legislative reforms related to transparency and accountability in the extractive industry.
The House of Representatives has expressed its commitment to fully realizing the objectives of the Nigeria Extractive Industry Transparency Initiative (NEITI). In a statement, the Chairman of the House Committee on Petroleum Downstream, Imo Ugochinyere, conveyed this assurance during a visit by a delegation from the Extractive Industry Transparency Initiative to the National Assembly.
He commended the work and vision of the Global Extractive Industries Transparency Initiative (EITI) for its efforts in promoting transparency, accountability, and good governance in managing revenues from natural resources in countries rich in resources, such as Nigeria. The collaboration with over 70 lawmakers as co-sponsors for critical bills suggests a legislative push to enhance transparency within the extractive industry.
“The NEITI has recorded giant strides in ensuring transparency and accountability in managing Nigeria’s oil, gas, and mining revenues. I also commend NEITI for your giant strides and courage in pursuing your mandate and mission in our extractive sector. The openness, transparency, and partnership we enjoy with NEITI have never been seen in the National Assembly,” Ugochinyere said.
The Chairman of the House Committee on Petroleum Downstream, Imo Ugochinyere, mentioned that the NEITI 2021 Oil and Gas Report has significantly enhanced the work of the National Assembly. This implies that the insights and information provided in the report have played a valuable role in informing and influencing the legislative processes related to the oil and gas sector within the National Assembly.
“In truth to our partnership and for the first time in the history of the House of Representatives, we successfully laid the NEITI 2021 Oil and Gas Industry Report on the floor of the House of Representatives on Wednesday the 25th of October, 2023, via a Motion which I sponsored, in compliance with the provisions of Section 4 (3) of the NEITI Act.
Through its Petroleum Resources Committees, the House has commenced its consideration, investigating, and working on all the recommendations from the Report. The outcomes of this review will be made public and implemented accordingly,” he said.
The House Committee on Petroleum Downstream Chairman, Imo Ugochinyere, highlighted that the committee’s agenda includes introducing significant amendments to the Petroleum Industry Act. The aim is to incorporate stronger provisions for facilitating a clean energy transition in the petroleum sector.
Furthermore, the committee is actively engaged in reviewing the NEITI Act to grant NEITI statutory powers to implement the findings of their investigations and potentially execute the recommendations outlined in their reports. This suggests a legislative effort to empower NEITI to have a more direct impact on promoting transparency and accountability in the extractive industry.
“We are also considering granting NEITI powers to prosecute those found to be in breach of extant laws; strengthening the governance structure of NEITI; placing more emphasis on crucial disclosure requirements of EITI especially as it relates to contract transparency and beneficial ownership; independent funding for NEITI; timely review and action on reports by the National Assembly, among others.
Agenda of our Committee(s) contd.: We are also working with sister Petroleum/Oil and Gas Committees to ascertain those who operate extractive industries in Nigeria, to deepen transparency and public oversight of the industries through the House.
“We also seek to pursue the recovery of public funds that were either mismanaged, wasted, or yet to be remitted from the extractive industries. It is also our desire to ensure that there is accountability on the part of state-owned extractive industries, to ensure that greater value and revenue is derived from the sector for the good of the nation and to foster a sustainable energy transition,” he added.
The Chairman of the Senate Committee on Petroleum Upstream, Eteng Williams, expressed that Nigeria deserves to benefit from the gains in the petroleum industry. This statement implies a commitment to ensuring that the country maximizes the advantages and potential revenue from its upstream petroleum activities.
It reflects the senator’s perspective on the importance of effectively managing and utilizing the resources within the petroleum sector for the benefit of the nation.
“Here, we work like a team. In the National Assembly, we work like one National Assembly, especially in the oil and gas industry. We are particular about how Nigeria will move forward,” Williams said.
The Chairman of the Senate Committee on Petroleum Upstream, Eteng Williams, conveyed that the National Assembly is dissatisfied with certain observed issues and aspires for a better future for Nigeria. This statement suggests a determination within the legislative body to address concerns or challenges, working towards improvements and reforms that will contribute to the overall betterment of the country.
“We need to work and ensure that Nigeria and Nigerians are better off than what we met. And we need to leave a legacy and we can not do that alone. We have to partner to see how our industry and Nigerians will celebrate in the next few months to come.” He said.
In response to the delegation, the Deputy Director of the Extractive Industry Transparency Initiative, Mr. Bady Badde, commended Nigeria’s accomplishments in the extractive industry. He expressed satisfaction with the opportunity to engage with the lawmakers, even during their recess.
This acknowledgment suggests appreciation for Nigeria’s efforts in promoting transparency and openness in its extractive sector, and the willingness of the delegation to collaborate with the legislative body.
“For this mission, we were attacked by an international board which is led by its chair. Helen Clark, who mandated us to travel to Nigeria to covey the outcome of the last validation which is the quality assurance, as applies to all member countries to verify the extent to which they are agreeing to the commitment of EITI principles and requirements in terms of transparency.
And also stakeholders participation in dialogue to help foster and improve the governance of the sector.” Mr Badde said.
The Deputy Director of the Extractive Industry Transparency Initiative, Mr. Bady Badde, stated that Nigeria is unparalleled in the implementation of a new provision called Transparency Beneficial Ownership. He also provided some tips for Nigeria to maintain its leadership in this aspect.
Meanwhile, the Executive Secretary of the Nigeria Extractive Industry Transparency Initiative, Mr. Orji Ogbonnaya Orji, mentioned that the agency has conducted numerous investigations, yielding findings and recommendations. This underscores the commitment of the organization to thorough examination and the promotion of transparency within the extractive industry in Nigeria.
He said, “Reports are just documents except they are implemented.”
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The Executive Secretary of the Nigeria Extractive Industry Transparency Initiative, Mr. Orji Ogbonnaya Orji, appealed to members of the National Assembly to aid in disrupting the restructuring of the NEITI structure. He highlighted that such restructuring could have an impact on the international image of the agency.
This suggests a call for support in maintaining the integrity and reputation of NEITI on the global stage during any organizational changes or reforms.
