NEITI recommends special investigation be instituted to establish status of non-operational refineries
Sept. 18, 2023
The Nigeria Extractive Industries Transparency Initiative (NEITI) has recommended that a special investigation be instituted to establish the status of our non-operational refineries and value for money assessment on the refineries should be carried out.
The Executive Secretary of NEITI, Dr. Orji Ogbonnaya-Orji made the recommendation while presenting highlights on the 2021 Oil and Gas report unveiled on Monday in Abuja
Ogbonnaya reiterated the need to strengthen remediation mechanisms and involve independent third parties to conduct detailed investigations when necessary among other recommendations.
Earlier, stakeholders in the oil and gas sector commended NEITI on efforts towards ensuring transparency and accountability in the industry.
Representing the Secretary to Government of the Federation, George Akume, his Permanent Secretary on Political and Economic Affairs, Esuabana Nko-Asanye, reiterated the importance of the report to economic development.
Akume reaffirmed the Federal Government’s commitment to support and deepen the implementation of the EITI in Nigeria.
He then restated the need for security issues especially in the Niger/Delta to be tackled to reduce losses in the sector.
The Group Managing Director of NNPCL, Mele Kyari, represented by his Chief Compliant Officer, Nasir Usman, pledged the unreserved support of NNPCL to NEITI to enable it achieve its mandate.
Representing the Minister, Budget and Economic Planning, his Permanent Secretary, Nebolisa Anako, stated the importance of data for economic planning.