The Nigeria Extractive Industries Transparency Initiative has reaffirmed its unwavering commitment to ensuring that Nigeria’s oil, gas and mining revenues are managed for the benefit of all citizens.

NEITI said it would deepen beneficial ownership disclosures, strengthen revenue tracking and contract transparency, and ensure full implementation of extractive sector governance reforms.

Orji Ogbonnaya Orji, NEITI’s executive secretary, said while briefing journalists in Abuja on the progress made in advancing transparency and accountability in Nigeria’s extractive sector.

In the bid to enhance beneficial ownership transparency, Mr Orji said NEITI remained committed to exposing hidden ownership structures to combat corruption.

“We improved the scope, quality, and timeliness of NEITI’s industry reports, expanding our reporting focus to include beneficial ownership, contract transparency, and environmental impacts.

“Reconstitution of the NEITI NSWG, ensuring high-level leadership, making it the only federal board chaired by the secretary to the government of the federation,’’ he said.

Mr Orji mentioned the establishment of the NEITI Data Centre Project, a strategic initiative designed to centralise and automate extractive sector data, ensuring open access to industry information and systematic disclosures in line with the EITI 2023 standards.

He said the inter-ministerial task team responsible for implementing NEITI’s report recommendations was reconstituted in May 2024 after seven years of inaction.

Mr Orji disclosed that the membership was upgraded to director-level representation, strengthening decision-making and policy implementation capacity.

(NAN)