NEITI set to recover all unremitted revenue from oil companies
NEITI also
stated that from August this year, its audit processes will be automated to
ensure speedy collection of data to enable it produce timely reports.
Speaking
during the visit of the Extractive Industries Transparency Initiative, EITI,
Implementation Committee, led by its Chairman, Ms Clare Short, in Abuja,
Chairman of NEITI, Mr. Ledum Mitee promised to partner with the President
Muhammadu Buhari’s administration to reform the country’s oil and gas sector
and also tackle the issue of corruption in the extractive industry.
NEITI had in
one of its report, indicted oil and gas companies operating in Nigeria,
including Nigerian National Petroleum Corporation, NNPC, of defrauding the
country up to the tune of $19.1 billion
(about N3.82 trillion) and called on President Buhari to ensure the recovery of
the money from the companies.
Mr Mite
stated that NEITI is working closely
with all the relevant government agencies to ensure that all outstanding
revenues reported as underpayment and underassessment are recovered into the
federation account.
He further
noted the country was committed to continuously improve on its modest
achievements and also strive to fully embrace the new EITI standards.
He said: “To
this extent, NEITI has commenced implementation of the comprehensive framework
on remediation and enforcement developed by the current board through the
machinery of the Inter-Ministerial Task Team, IMTT.
“Under this
arrangement, NEITI is expanding its frontier of inter-agencies collaboration
and broadening the scope of engagements with the government, companies, media
and civil society as well as strengthening its internal capacity.”
Mitee
further stated that NEITI had started addressing the identified gaps in its
operations ahead of the EITI validation of Nigeria, which falls due in January
2016.
According to
him, NEITI is fully aware of the importance of this exercise and is making
necessary preparations to ensure that Nigeria meets the validation
requirements.
He said:
“The process of implementing the new EITI requirements with respect to the
issues of beneficial ownership and contracts disclosure in this part of the
world may require careful strategy to ensure stakeholders’ buy in.”
Also speaking,
Clare Short, International Chair, EITI, commended NEITI for its activities in
Nigeria so far, expressing concern, however, on the non-implementation of the
reports by the past administrations.
She said:
“Recommendations for reforms have not been carried through in the past. The new
government wants to reform the sector.
“NEITI has
done the analysis; it is a real opportunity to pick up the recommendations and
drive it all forward. It is not like a new government, wanting to reform, to
start examining where the problem is. That part of the job has been done. The
government should then drive through the reforms.
“It is a
better opportunity for government and the citizens to ensure that companies pay
what is due them and that the funds are properly managed for the betterment of
the society.”
Short
further stated that NEITI’s recommendations present a golden opportunity for
the new administration to carry on the proposed reforms of the sector and stop
bad practices that was prevalent in the industry in the past.
Speaking in
the same vein, Mrs. Zainab Ahmed, Executive Secretary, NEITI, lamented the
delay in churning out its reports, noting, however, that special provision has
been made to ensure that it fast-tracks the audit process.
She said: “As
we speak, a project is ongoing for the automation of the data
collection process for the audit.
“It would be
commissioned by August and this will enable us to produce more timely reports
which the government and citizens would find more useful.”
Comments
Post a Comment