By Francis Ogwo
The Nigerian National Petroleum Corporation (NNPC) has been urged by the Extractive Industries Transparency Initiatives (EITI) to maintain the lead in transparency among other African National Oil Companies.
In a letter addressed to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, EITI’s Executive Director, Mark Robinson, had commented: “The NNPC has set a good example and could lead in championing transparency for other NOCs in Africa.”
The multinational body had written to Mallam Kyerii inviting him to speak at its virtual workshop on the topic “Learning from Mainstreaming Disclosure Efforts,” next month.
Reports say the virtual conference aims at working out modalities of establishing systemic and regular disclosure of extractive data.
The Extractive Industries Transparency Initiative (EITI) with headquarters in Oslo, Norway is a global standard for the good governance of oil, gas and mineral resources. It seeks to address the key governance issues in the extractive sectors. It currently has 52 countries in membership.
It was established on June 17 2003 with the purpose of entrenching financial transparency and improved governance in the extractive industry
According to Wikipedia sources, the EITI Standard is implemented in 52 countries around the world. Each of these countries is required to publish an annual EITI Report to disclosing information on: contracts and licenses, production, revenue collection, revenue allocation, and social and economic spending.
