By ObasEsiedesa, Abuja
The Federal Government (FG) on Monday expressed confidence that Nigeria would successfully scale through the 2026 validation of the Extractive Industries Transparency Initiative, EITI, saying reforms in transparency, accountability and governance have positioned the country for a favourableoutcome.
The Secretary to the Government of the Federation, SGF, and Chairman of the National Stakeholders Working Group, NSWG, for the EITI, Senator George Akume, stated this while declaring open a three-day joint strategic retreat of the NSWG and the senior management of the Nigeria Extractive Industries Transparency Initiative, NEITI, in Abuja.
The 2026 EITI Validation Exercise commenced on July 1, with an international validation team expected to visit Nigeria in August.
Akume described the validation as an opportunity for Nigeria to demonstrate progress in strengthening governance of its oil and gas sector, addressing previous corrective actions and institutionalising reforms that promote transparency and accountability.
He said the Federal Government viewed the validation process as an important mechanism for strengthening public confidence, improving governance and attracting investment into the country’s petroleum and solid mineral industries.
“The President of Nigeria is committed to providing the needed strategic leadership and coordination required to support the successful implementation of the EITI across government institutions,” he said.
According to him, success should not be measured by the number of reports produced or data disclosed, but by the extent to which transparency strengthens institutions, restores public trust, builds investor confidence and supports sustainable national development.
Akume noted that the 2023 EITI Standard places greater emphasis on systematic disclosures, beneficial ownership, contract transparency, state-owned enterprises, anti-corruption measures, environmental reporting, energy transition and stakeholder participation, adding that these priorities align with the Federal Government’s reform agenda.
He commended NEITI for submitting Nigeria’s validation documentation and engaging key stakeholders ahead of the visit by the EITI International Validation Team, expressing confidence that the country would continue to position itself as a global leader in extractive sector transparency.
Earlier, NEITI Executive Secretary, Hon. Musa Adar, said the validation exercise marks a defining moment in Nigeria’s implementation of the global transparency initiative.
He said while NEITI had built a strong reputation over the past two decades through the publication of independent reports on the oil, gas and mining sectors, the focus of the global EITI process had shifted from reporting to measurable impact.