From Juliana Taiwo-Obalonye, Abuja
Federal Government has urged stakeholders in Nigeria’s extractive sector to seize the 2026 Extractive Industries Transparency Initiative (EITI) Validation Exercise as an opportunity to deepen transparency, strengthen accountability and entrench good governance for sustainable national development.
The call was made on Monday by the Secretary to the Government of the Federation (SGF) and Chairman of the National Stakeholders’ Working Group (NSWG), George Akume, while opening a three‑day Joint Strategic Retreat in Abuja themed “Strengthening EITI Implementation from Extractive Sector Reporting to Impact”, according to a statement issued by Head of Information and Public Relations Department, Chris Ugwuegbulam.
“I commend the significant work already undertaken by NEITI, particularly in making the submission to EITI and the various on‑going strategic engagements with stakeholders in preparation for the forthcoming visit of the EITI International Validation Team,” Senator Akume said. “These efforts demonstrate Nigeria’s commitment to an inclusive, transparent and credible Validation process.”
Akume told participants that success under EITI should not be measured only by the volume of reports or information disclosed, but by how transparency strengthens public institutions, enhances investor confidence, restores public trust in resource governance and contributes to sustainable development.
He noted that the 2023 EITI Standard emphasises systematic disclosures, beneficial ownership, contract transparency, state‑owned enterprises, anti‑corruption measures, environmental reporting, energy transition and meaningful stakeholder participation — priorities he said align with the Federal Government’s Renewed Hope Reform Agenda. “The Validation process remains a critical mechanism for strengthening public confidence in the management of Nigeria’s natural resources,” he added.
The SGF commended the Nigeria Extractive Industries Transparency Initiative (NEITI) Secretariat and the NSWG for their preparation ahead of the validation, urging members to use the retreat to review achievements, strengthen collaboration, address outstanding priorities and develop practical strategies to secure a successful Validation outcome and drive long‑term governance reforms.
Executive Secretary of NEITI, Musa Adar, described the retreat as a “critical platform” for assessing Nigeria’s progress under the EITI and charting a strategic course forward. He said the Validation Exercise is not only an opportunity to demonstrate compliance with the EITI Standard but also to measure progress in institutionalising reforms, implementing corrective actions and improving governance across the sector.
“The recent engagements with government institutions, extractive companies, civil society organisations and the media have revealed a strong commitment to the validation process,” Adar said, while acknowledging “the need for stronger inter‑agency coordination, improved documentation and more effective implementation of audit recommendations.”
The three‑day retreat brings together members of the NSWG and NEITI senior management to align on strategy and ensure Nigeria is well prepared for the forthcoming visit of the EITI International Validation Team.
(The Sun)
