In a major achievement, Nigeria has successfully navigated through the rigorous evaluation process of the Extractive Industries Transparency Initiative (EITI), securing an impressive overall score of 72 points out of 100. The announcement of these results was made today during the 58th Board meeting of the International EITI Board, held at its global headquarters in Oslo, Norway, under the esteemed leadership of Rt. Hon. Helen Clark, former Prime Minister of New Zealand.
The comprehensive assessment, spanning a duration of 11 months, scrutinized Nigeria’s performance across three pivotal thematic areas: transparency, stakeholders’ engagement, and outcomes & impacts. The country demonstrated remarkable prowess, particularly excelling in key areas such as data integrity, comprehensiveness of reports, outcomes and impacts, contribution to economic growth, and adherence to legal frameworks.
One noteworthy highlight of Nigeria’s achievement is the attainment of a commendable score of 90 points, marking the highest achievement, in crucial aspects including data integrity, comprehensiveness of report, outcomes and impacts, contribution to economic growth, and adherence to legal frameworks. This outstanding performance underscores Nigeria’s commitment to fostering transparency, accountability, and sustainable development within its extractive industries.
The announcement of Nigeria’s success in the global EITI assessment reaffirms the nation’s dedication to enhancing governance practices within its extractive sectors. The evaluation process, conducted over nearly a year, underscores Nigeria’s steadfast commitment to promoting transparency, engaging stakeholders effectively, and achieving tangible outcomes and impacts.
As Nigeria celebrates this significant milestone, the nation looks forward to building on its successes and continuing to demonstrate leadership in fostering responsible and accountable practices within its extractive industries. The achievement not only reflects positively on Nigeria but also contributes to the global recognition of the nation’s commitment to transparent and responsible resource management.
Nigeria’s commendable performance in the EITI assessment serves as a testament to the nation’s dedication to upholding global standards of transparency and accountability in its extractive industries, positioning itself as a role model for other nations striving for excellence in resource governance.
