BY Obinna Nwachukwu
Nigerian Extractive Industries Transparency Initiative (NEITI) has introduced a quarterly dialogue initiative for their partners and stakeholders towards deepening oversight and policy reforms in the sector.
This was disclosed by the Executive Secretary/CEO of the Agency, Dr. Orji Ogbonnaya Orji, at the maiden edition of the NEITI House Dialogue (NHD) held on Monday at its Head Office in Wuye, Abuja.
He stated that the NHD will host notable policy makers in Nigeria’s extractive industries and related sectors, who would address issues that are of interest and topical to the industry.
Welcoming the maiden speaker at the event, Commission Chief Executive (CCE) of Nigerian Upstream Petroleum Regulatory Commission, Engr. Gbenga Komolafe, Dr. Orji said: “I am pleased to welcome our good friend and brother and a key partner in the NEITI process to NEITI House for the very first time, and as the first guest to open the NEITI House Dialogue.
“NEITI House Dialogue (NHD) is a quarterly briefing of NEITI stakeholders that will take place at the NEITI House in Wuye.
“The NHD will also get the invited policy maker to provide update or status report on the implementation of NEITI report recommendations as it concerns the agency. This is with a view to deepen not just government oversight and reforms in the extractive sector, but make it inclusive of all stakeholders.”
NEITI Boss noted that the Dialogue would adopt a multi-stakeholder approach where representatives of different stakeholder groups would participate.
“Selected section of company representatives, media and civil society actors will be invited to the programme live. This is to demonstrate the multi-stakeholders’ nature of the EITI process.
“The invited guests will also get the privilege to ask the policy maker questions around the theme of the programme for the quarter. This will be strictly adhered to, to avoid derailing from the goal of the programme,” he stated.
Dr. Orji, who regretted that the edition was coming a month behind schedule, listed the issues for discourse at the event, by Engr. Komolafe, to include: -Licensing and Bid Rounds in Nigeria’s oil and gas sector
-Online register of Licenses for upstream assets
-Contract and License Disclosure in the Upstream segment of Nigeria’s oil sector
-Gas Commercialization in Nigeria
-Host Community Development Trust Fund
-Hydrocarbon measurement issues in the oil sector
-Crude Oil loss due to theft, sabotage, and deferred production, Revenue remittance issues
-Status of beneficial ownership information disclosure in the oil sector.
-Energy Transition Plans and Policies for the sector and the progress made so far in the implementation of the PIA as it affects the Commission.
Speaking on the issues, the NUPRC Boss noted that in accordance with NEITI Transparency Initiative oversight of the industry, his Commission is poised to promote transparency, good governance and accountability in the administration of petroleum resources and their derivatives through fair, competitive, and non-discriminatory regulatory framework.