The Nigeria Extractive Industries Transparency Initiative (NEITI) has said it would conduct independent audits and publish the reports covering operations carried out in the oil, gas, and solid minerals sectors in the year just ended, 2024.
Presenting its 2024 Budget Performance Report and outlining its key priorities for the 2025 fiscal year to the House Committee on Petroleum Resources – (Upstream), the Agency pledged to work assiduously in expanding revenue generation especially tracking of contributions from emerging energy sources as well as addressing illicit financial flows.
The Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, who led the NEITI team to the presentation, reaffirmed NEITI’s commitment to promoting transparency and accountability in Nigeria’s extractive sector while aligning with the national objectives of the economic diversification and sustainable resource management of government.
He said: “NEITI will conduct independent audits and publish the reports that will cover 2024 operations in the oil, gas, and solid minerals sectors. NEITI will also expand its focus on revenue generation including tracking contributions from emerging energy sources as well as addressing illicit financial flows.”
Orji while disclosing that NEITI recorded commendable and measurable achievements in 2024 driven by the effective utilisation of its approved budget noted that the achievements were in the areas of comprehensive and timely reporting, capacity building, stakeholders’ engagements and efficient budget execution.
While explaining the achievement made in the areas of capacity building and stakeholders’ engagement, Dr Orji noted that: “NEITI strengthened its partnerships with civil society organisations, media, and government agencies, ensuring that the findings of its reports translated into actionable outcomes”.
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