The Federal Government is seriously considering the plea by the Nigerian Extractive Industry Transparency Initiative (NEITI) for the exemption of its National Stakeholders Working Group (NSWG) from the recent decision to dissolve all Boards of agencies and parastatals in the country.
Speaking at the official launching of the 2021 NEITI Solid Minerals Sector Report on Monday, the Secretary to the Government of the Federation (SGF), George Akume, said the consideration was a demonstration of the government’s commitment to the global Extractive Industries Transparency Initiative (EITI) to sustain the progress so far made to institutionalise transparency and accountability in the oil, gas and mining sectors in the country.
The SGF, who was represented by the by the Permanent Secretary in his office, Maurice Mbere, said in view of Its national and international mandate as a member of the global EITI, the appeal by NEITI for the exemption of its NSWG or the Board would be granted soon to enable it continue to fulfil its mandate.
“I, therefore, wish to reassure all stakeholders and our global partners that the issue (exemption of NEITI Board) will be addressed, very soon,” the SGF said.
The SGF commended NEITI for discharging its mandate responsibly in a courageous and exemplary manner, adding that the publication of the 2021 Solid Minerals Industry Report was part of its core mandate and Nigeria’s international commitment to transparency and accountability in the extractive sector.
He described NEITI as a model for other government institutions to emulate, reiterating the Tinubu’s administration’s commitment to the fight against corruption in the extractive industry.
The government, the SGF said, was convinced that the revival of the country’s economy and the recently unfolded eight-point agenda cannot yield the desired result without the support and strengthening of the anti-corruption and reform-oriented agencies like NEITI.
He urged NEITI to consolidate on its achievements by expanding its operations to all the zones and states across the country to help bring its impactful activities to host communities and all Nigerians at the grassroots.
At the formal launch of the report on Monday in Abuja, the Executive Secretary of NEITI, Orji Ogbonnaya Orji said the earnings from the sector of about N193.59Billion in 2021 was the highest recorded over the period and since the reconciliation of payments by companies and receipts by government in the sector began.
Details of the report showed that the 2021 earnings grew by about ₦60.32 billion, or 51.89%, when compared with the 2020 revenue figure of ₦116.82billion.
Orji said the positive trend reflected a continued growth in the sector over the past five years, although still abysmal considering that out of the N6.62 trillion total government revenue in 2021, the sector barely contributed 2.6% only. The contribution of the solid minerals sector to the country’s total export value in 2021 was a paltry 0.24%.
