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Extractive Industry Reforms: NEITI Urges Government To Implement Its Report

Channels Television  
Updated June 16, 2015

International Extractive Body Urges Government To Implement NEITI ReportThe International Extractive Industries Transparency Initiative (IEITI) has called on the Nigerian Government to implement its past reports in its quest to reform the mineral extractive sector of the economy.

The IEITI Chairperson, Mrs Clare Short, made the call on Tuesday during a visit to Nigeria, to meet with the government and lend a voice to the proposed reforms in the extractive sector of the economy.

She expressed the view that the Nigerian Government had a ready-made tool in the reports of NEITI which could be relied upon to reform the sector.

NEITI, in some of its past audit reports had alleged several irregularities in the extractive industries including unremitted dividends and abuse of the petroleum subsidy regime.

The four year audit reports between 2009 and 2012 contained an alleged unremitted $11.6 billion to the Federation Account.

NEITI Chairman, Mr Mitee Ledum, decried the non-implementation of the audit reports and recommendations to reform the extractive industries.

The Executive Secretary of NEITI, Zainab Ahmed, also explained why NEITI has not been able to prosecute defaulters in the past.

She expressed optimism that this visit by the international body would boost the clamour for the implementation of the reports.