EITI To Decide Nigeria’s Status With Considerations

EITI says that the decision on whether or not to suspend Nigeria for missing the 2013 report deadline will be made with special considerations for the peculiar circumstances in the country.

The Deputy Head of the EITI secretariat, Mr Eddie Rich, disclosed this on Monday in a meeting with executives of the Nigerian Extractive Industry Transparency Initiative (NEITI) in Abuja.

Speaking on behalf of the EITI executive board, Mr Rich said that despite a significant possibility for Nigeria to be suspended, the board would ensure they strike a balance between the persistent issues in Nigeria and the EITI global standards.

The board also paid a courtesy visit to the Vice President of Nigeria, Professor Yemi Osinbajo, to introduce the incoming Chairman of the organisation, Mr Fredrick Reinfeldt.

Mr Reinfeldt, who would take over from Clair Shot in March, gave his impression about Nigeria and the need for transparency amidst the dwindling oil prices.

The Extractive Industry Transparency Initiative (EITI) was inaugurated to ensure transparency in the extractive oil and gas sector.

The group monitors the government of at least 49 countries of the world to ensure that the oil money is used for the good of the common man.