Global Transparency Team Evaluates Nigeria's Oil, Gas Reforms

Nigeria is set to undergo a comprehensive evaluation by the Global Extractive Industries Transparency Initiative (EITI) validation team. The team, which arrived in the country, will assess the progress made by Nigeria in improving transparency and accountability in the oil, gas, and mining sectors. This validation exercise, which starts on August 10 and runs until August 14, is a crucial step in the 2026 EITI Validation Exercise that commenced on July 1. The exercise provides an opportunity for Nigeria to demonstrate its commitment to responsible management of its natural resources and showcase the implementation of corrective actions identified during its previous assessment. According to the Nigeria Extractive Industries Transparency Initiative (NEITI), the validation team will conduct a quality assurance assessment and consult with various stakeholders, including government institutions, the National Assembly, oil, gas, and mining companies, civil society organizations, and host communities. The team will also meet with senior government officials, such as the Secretary to the Government of the Federation and Chairman of the NEITI Board, Senator George Akume, and the Ministers of Finance and Budget and Economic Planning. NEITI's Executive Secretary, Musa Adar, emphasized the importance of the exercise, stating that it is an opportunity for Nigeria to demonstrate its commitment to transparency, accountability, and prudent management of its natural resources. The validation process is an independent quality assurance mechanism that determines how well implementing countries comply with the EITI Standard. Nigeria underwent its fourth EITI validation in January 2023 and obtained an overall score of 72 points, with several areas identified for corrective action. The 2026 exercise will assess the progress made by Nigeria in addressing these areas and strengthening the governance of its extractive resources.