The Nigeria Extractive Industries Transparency Initiative (NEITI) is reviewing its 2020-2021 reports of the oil, gas and mining industries for stakeholders’ input for approval and release.

Orji Ogbonnaya Orji, NEITI executive secretary, said this at the Stakeholders’ Roundtable for the Review and Approval of NEITI Audit Reports on Wednesday in Abuja.

The reports sought to establish the revenue paid by oil, gas and mining companies and how much of such revenues were actually received into government coffers.

The reports covered 69 companies and 12 government agencies, and one state-owned enterprise for the oil and gas reports. One thousand two hundred fourteen companies and three government agencies were covered in the reports of the solid minerals, which aimed at establishing the quantities of minerals produced and utilised in the country.

Mr Orji said other areas of focus by NEITI were identifying investments made by the federation or the federal government in the oil, gas and mining industries, tracking subsidy payments and company remittances and liabilities.

“The processes followed, especially on the basis for computation and remittances of all revenues payable to government such as taxes, royalties and rents, are equally of interest to NEITI. We hope that after this review and approval process, the independent auditors who are part of this meeting will, in collaboration with NEITI staff, reflect your comments, observations and remarks in the reports before they are finalised and released,’’ Mr Orji explained.

Mr Orji said the stakeholders meeting was to consider and approve the NEITI reports, which the Independent Administrators, Messrs Taju Audu and Co and Amedu Onekpe and Co had submitted.

He said the NEITI standard, guiding its operations, requires that the Multi Stakeholders Group (MSG), which oversees the EITI reporting process and implementation in countries, approve the industry reports produced before being released to the public.

Mr Orji also mentioned that in Nigeria, the MSG, known as the National Stakeholders Working Group (NSWG), was among the board of ministries, departments and agencies (MDAs) dissolved by the president on June 19, 2023.

He said NEITI’s immediate priorities were to release the 2020-2021 oil, gas and mining reports and the fiscal allocation and statutory disbursement reports consequent upon its approval.

According to the NEITI boss, its priorities also include the conduct of the 2022-2023 industry reports in the oil, gas and mining sector and linking NEITI reports to revenue growth and impact and updating data and information on all financial liabilities.

(NAN)