President Bola Ahmed Tinubu inaugurated the newly constituted 15-member Governing Board of the Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday, May 21.
The board, also known as the National Stakeholders Working Group, is headed by the Secretary to the Government of the Federation, Senator George Akume.
Speaking at the event in Abuja on Tuesday, President Tinubu said the inauguration has reaffirmed his administration’s commitment to the implementation of the Extractive Industries Transparency Initiative.
Represented by the SGF, the President said transparency in the extractive sector as well as prudent management of Nigeria’s resources was central to his administration’s economic agenda and the anti-corruption policies.
He said: “The present administration is passionate and remains fully committed to the global Extractive Industries Transparency Initiative, the work of NEITI and the visible impacts which the EITI process has achieved so far in Nigeria.
“Our faith in the EITI process is not just because it is central to our key government agendas, but also because, over the years, NEITI has demonstrated a high degree of competence, integrity and commitment to the values that the country requires to achieve economic growth and development in the sector.
“This has been through the availability of reliable information and data required for national planning and reforms. NEITI has supported revenue growth in the sector through the meticulous application of EITI principles.
“Our national and global focus is on energy security, efficiency and justice in energy financing, renewables and control of emissions. The work of NEITI is so important to our country and particularly this administration in helping us to define our country’s engagement strategy on the energy transition debate through consultations, constructive engagement driven by reliable information and data.”
Tinubu emphasised NEITI’s non-partisan nature, saying that their appointment as NSWG members is a part-time one and not a full-time job.
He also called on the NSWG members to conduct themselves according to the NEITI standards that define the function of the NSWG to be focused on policy and oversight.
He said: “It is also necessary for me to stress that your appointment is a part-time one. Your appointment as a member of the NSWG is not a full-time job and as members, please note this very carefully to avoid getting involved in issues of day-to-day management which is the work of NEITI management under the leadership of the Executive Secretary.
“You are therefore advised to conduct yourselves in accordance with this requirement.”
