The Nigerian Extractive Industries Transparency Initiative (NEITI) has said its major challenge lies on addressing the findings and recommendations contained in its independent audit report in the oil and gas industry.
At a roundtable convened by NEITI to harmonise key issues contained in it audit reports in the oil and gas sector, the chairman of board, Ledum Mitee, complained about the poor implementation of remedial issues in its audit finding, stressing that it was capable of undermining the chances of Nigerians reaping the benefits of the global initiative.
The meeting was also a forum to map out strategies for urgent implementation of the recommendations.
He said NEITI had conducted and published four cycles of audit reports in the oil and gas sector, pointing out that each of the reports had made profound revelations and also identified several processes and governance lapses in the sector, as well as provided appropriate recommendations on how to fix the problems.
“The issue of remediation has been of concern of NEITI for a while and I am happy to report that in December 2013, the federal government reconstituted and expanded the platform, inter-ministerial task team (IMTT) for addressing remediation issues arising from our audit reports.”
He called on extractive industries, companies, the media, civil societies and relevant government agencies represented in the task team to push the boundaries of implementation.
Also speaking, the executive secretary of NEITI, Zainab Ahmed, said the purpose of the roundtable meeting was to set a clear agenda and timeliness for implementation.
“There is no doubt that for NEITI impacts to be better felt, the remediation issues and recommendations in its audit reports must be adequately addressed. We shall continue to deepen our engagements with the government, companies, media and civil society as well as strengthening inter-agencies collaboration with a view to address all these remedial issues,” she said.