The Nigeria Extractive Industries Transparency Initiative (NEITI) is the Nigerian subset of a global initiative aimed at following due process and achieving transparency in payments by Extractive Industry (EI) companies to governments and government-linked entities.
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NEITI was inaugurated in February 2004 by former President Olusegun Obasanjo when he set up the National Stakeholders Working Group (NSWG) under the leadership of Mrs Obiageli Ezekwesili. The NSWG oversees the activities of NEITI and is made up representatives of government, extractive companies and civil society.
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A comprehensive Audit of the Nigerian Extractive Industries.
Change Management and Local Content surveys including acreage allocation, purchasing and administrative reforms.
Build back capacity within government agencies relevant to oil & gas revenue management. Also improve capacity of civil society to be fully engaged in the EI transparency process.
Regular publication of all material oil, gas and mining payments by companies to governments ("payments") and all material revenues received by governments from oil, gas and mining companies ("revenues") to a wide audience in a publicly accessible, comprehensive and comprehensible manner.
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We affirm that management of natural resource wealth for the benefit of a country's citizens is in the domain of sovereign governments to be exercised in the interests of their national development. We recognise the enhanced environment for domestic and foreign direct investment that financial transparency may bring.
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We share a belief that the prudent use of natural resource wealth should be an important engine for sustainable economic growth that contributes to sustainable development and poverty reduction, but if not managed properly, can create negative economic and social impacts.
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The ultimate objective of the NEITI Communications Strategy is to empower a greater proportion of the Nigerian public to effectively access, understand and participate meaningfully in the ongoing dialogue pertaining to use of Nigeria's greatest source of wealth, its oil and gas sectors.
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