ADVERTISEMENT
  • Africa
  • World
  • Our Shows
    • Entrepreneurship
    • Destination Business
    • 101business TV Show
Business 360 News
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly
No Result
View All Result
Business 360 News
No Result
View All Result
Home Energy

NEITI Declares Nigeria Ready for Global Extractive Industry Validation 

Victoria Emeto by Victoria Emeto
June 29, 2026
in Energy
0

The Nigeria Extractive Industries Transparency Initiative (NEITI) has reaffirmed the country’s readiness for the upcoming global Extractive Industries Transparency Initiative (EITI) Validation exercise scheduled to commence on July 1, 2026.

NEITI’s Executive Secretary, Hon. Musa Adar, gave the assurance during a consultative forum with civil society organisations in Abuja, according to a statement issued on Monday by the agency’s Director of Communications and Stakeholders Management, Obiageli Onuorah.

Adar said the National Stakeholders Working Group (NSWG) had systematically addressed all corrective actions identified during Nigeria’s previous validation exercise.

According to him, the issues resolved include stakeholder engagement, contract disclosure, resource-backed loans, subnational transfers, and transparency involving state-owned enterprises.

“Nigeria has taken deliberate steps to close gaps identified in the last validation. We are stronger, more coordinated, and ready to demonstrate our progress to the global EITI community,” Adar said.

He noted that NEITI had also engaged the three key stakeholder groups—government, civil society, and extractive companies—on the new validation model, reporting templates, and corrective actions.

Adar described the validation exercise as more than a compliance requirement, saying it reflects Nigeria’s commitment to transparency, accountability, and good governance in the management of its extractive resources.

He added that NEITI is working closely with government agencies, extractive companies, civil society organisations, and development partners to ensure all disclosures and documentation required under the 2023 EITI Standard are complete and readily accessible.

According to him, the agency remains committed to ensuring that every corrective action is addressed and every stakeholder group is fully engaged before the validation exercise begins.

Adar also described the validation as an opportunity to showcase Nigeria’s sustained commitment to reforms and continuous improvement in extractive sector governance.

He urged civil society organisations and the media to monitor audit recommendations, review institutional disclosures, engage with validation templates, and actively contribute to the process.

The Executive Secretary encouraged stakeholders to take ownership of Nigeria’s validation process and highlight the country’s progress in implementing global transparency standards.

Speaking at the forum, Dr. Erisa Danladi, Chair of the Communications and Civil Society Steering Committee and civil society representative on the NEITI Board, said the meeting was convened to validate stakeholder contributions to the EITI reporting template.

Also speaking, NEITI’s Director of Communications and Stakeholders Management, Obiageli Onuorah, said Nigeria had made significant progress in addressing previous corrective actions.

She cited the recently signed Memorandum of Understanding between NEITI and the National Human Rights Commission to protect civic space, describing it as an innovative initiative that has received commendation from the global EITI community.

Faith Nwadishi of the Centre for Transparency urged civil society organisations to see the validation templates as tools for accountability and implementation rather than mere reporting documents.

She stressed that the documents should be used to hold covered institutions accountable for their obligations.

Other stakeholders, including NEITI Board representative Steven Akpan, Barrister Chima Williams, Emeka Ononamadu, and the Chairman of the Resource Justice Network, Mustapha Mohammed, expressed strong support for Nigeria’s validation process.

They described the validation exercise as an independent assessment of the country’s progress in implementing global transparency standards.

The stakeholders noted that Nigeria welcomes the process as an important mechanism for strengthening public trust, improving revenue accountability, and ensuring that the country’s natural resources contribute to sustainable national development.

Tags: #ExtractiveIndustry#GoodGovernance#NEITI#Transparency
Previous Post

Tanzania, Dangote Group Explore New Investments in Power, Fertiliser, Ports 

Next Post

FG Orders Marketers to Cut Fuel Prices as Global Oil Costs Fall 

Victoria Emeto

Victoria Emeto

Next Post

FG Orders Marketers to Cut Fuel Prices as Global Oil Costs Fall 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

FMDQ Admits TSL SPV PLC ₦12.00 billion Series 1 Guaranteed Fixed Rate Infrastructure Bond to its Platform

March 11, 2021

NIBSS Downtime Causes Delays in Electronic Transactions, Fintechs Alert Customers

June 7, 2024

Asian Stocks Hit Record High as US Tech Rebound Lifts Market Sentiment

February 10, 2026

BNP Paribas Sells 25% Stake in AG Insurance to Ageas for £1.9bn

December 8, 2025

‘The existence of a production hub in Nigeria will go a long way for the Fashion Industry’. FUNMI RUFAI LADIPO, President Fashion Designers Association of Nigeria.(FADAN)

25

Goldlink’s restructures board

10

Airtel Africa Plc gets admitted to the NSE Main Board

6

Stallion Tank Farm resumes operations

3

Ramaphosa Orders Nationwide GBV Crackdown After 11 Women Killed in Ekurhuleni

September 30, 2026

S&P Global Takes Majority Stake in Nigeria’s Agusto & Co, Deepens African Ratings Push

September 30, 2026

South Africa Summons US Ambassador as Diplomatic Tensions With Washington Deepen

September 30, 2026

Anthropic’s $518bn AI Infrastructure Commitments Reveal Enormous Cost of AI Race

September 30, 2026
Business 360 News

Business 360 News is a Business and Financial News Platform with an SMEs drive. Published by 360 Network Limited, and created with the aim of disseminating unbiased business stories to readers within and outside Nigeria, providing in-depth analysis of our stories from a critical perspective against the backdrop of realities, actualities, objectivity and balance.

Follow Us

Browse by Category

  • Africa
  • Agribusiness
  • Agriculture
  • AI
  • Art
  • Arts
  • Aviation
  • Banking
  • Blockchain
  • Business 360 Weekly
  • Business news
  • Business Travels
  • Capital Market
  • CHINA
  • Corporate
  • Cryptocurrency
  • Destination Business
  • East Africa
  • Economy
  • Education
  • Electric Vehicles
  • Electricty
  • Energy
  • Entertainment
  • Entertainment
  • Entrepreneurship
  • EV
  • Fashion
  • Fashion
  • Feature
  • Finance
  • Gas
  • Global Economy
  • Health
  • Hospitality
  • ICT
  • Insurance
  • IoT
  • Japan
  • Lifestyle
  • Luxury
  • Maritime
  • Meetings
  • Mortgage
  • News
  • NGOs
  • Oil
  • Petrol
  • Political Economy
  • politics
  • Real Estate
  • Real Estate
  • SMEs
  • Society
  • Solar Energy
  • South Africa
  • Sports
  • Start-Ups
  • Stocks
  • Success Stories
  • Tax
  • Tech
  • Tourism
  • Transportation
  • UK
  • Uncategorized
  • US
  • West Africa
  • World

Recent News

Ramaphosa Orders Nationwide GBV Crackdown After 11 Women Killed in Ekurhuleni

September 30, 2026

S&P Global Takes Majority Stake in Nigeria’s Agusto & Co, Deepens African Ratings Push

September 30, 2026
  • Africa
  • World
  • Our Shows

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!

No Result
View All Result
  • Home
  • Africa
    • East Africa
    • West Africa
    • South Africa
  • News
    • Feature
  • Economy
    • Maritime
    • Agriculture
      • Agribusiness
    • Energy
      • Electricty
      • Oil
      • Petrol
      • Gas
  • Finance
    • Insurance
    • Tax
    • Real Estate
  • Capital Market
  • Tech
    • ICT
    • Solar Energy
    • Electric Vehicles
    • Blockchain
    • IoT
    • AI
    • EV
  • SMEs
    • Success Stories
    • Start-Ups
    • Entrepreneurship
  • Global Economy
    • UK
    • US
    • Russia
    • CHINA
    • Japan
  • Business 360 Weekly

© Business 360 News - Business, Finance And SMEs News | Design by Manifest!