By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the successful commencement of oil production from the Akpo West Field, located approximately 175 kilometres from Port Harcourt.

The NNPC Ltd. said the production was in line with President Bola Tinubu’s directive that it should optimise production from the nation’s oil and gas assets.

The NNPC Ltd.’s Chief Corporate Communications Officer, Olufemi Soneye, in a statement on Wednesday said the milestone was the result of meticulous planning, strategic collaboration and unwavering dedication from stakeholders involved in the project.

He said it would add 14,000 barrels per day condensate to the nation’s production.

“This will be followed up by the production of about four million cubic meters of gas per day by 2028.

“The development of Akpo West which is on Petroleum Mining Lease (PML) 2, (formerly OML 130), leverages the existing Akpo Floating Production Storage and Offloading (FPSO) facility via a sub-sea tie-back to keep costs low and minimise greenhouse gas emissions,

The milestone was enabled by the strategic leadership of the Group Chief Executive Officer, Mr Mele Kyari and its Upstream Directorate whose support played role in propelling the operators to actualise short and mid-term hydrocarbon production goal of the current administration,” the statement quoted Soneye as saying.

Akpo West is located 135 kilometres offshore and it is one of the discoveries on PML 2 with proximity to the Akpo main which started up in 2009 and produced 124,000 barrels of oil equivalent per day in 2023.

PML 2 is operated by TotalEnergies with a 24 per cent interest, in partnership with CNOOC (45 per cent), Sapetro (15 per cent), Prime 130 (16 per cent) and the NNPC Ltd., as the concessionaire of the Production Sharing Contract (PSC). (NAN)(www.nannews.ng)

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Edited by Emmanuel Afonne

By Emmanuella Anokam

The Federal Government says it will implement measures to significantly reduce the price of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas.

It will also ensure the domestication and penetration of the LPG towards ensuring accessibility and availability for consumers across the country.

Mr Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), made this known at a Stakeholders’ Consultative Meeting on Tuesday in Abuja.

Ekpo said that prioritising the domestication and penetration of the LPG was one of the three priority areas of President Bola Tinubu-led administration.

He identified another area as intensifying efforts to increase upstream gas production to bridge supply and improve strategic economic sectors like Gas to Power, Gas-Based Industries (GBIs) and Gas for Export.

He said it would focus on the completion of major gas midstream infrastructure and projects, including the AKK Gas Pipeline Project, the OB3 Gas Pipeline Project and the ANOH Project.

According to the minister, this will enable flagship projects like the Brass Methanol Project to enhance the efficiency and capacity of the gas sector.

“It is imperative that we work together to unlock more resources to provide gas for power, GBIs, LNG export, and domestic use.

“This will foster economic growth, ensure energy security and eradicate poverty, a cardinal objective of President Bola Tinubu’s Renewed Hope Agenda.

“Nigeria is positioned as one of the leading gas-rich countries in the world. We have, however, not unlocked the full potential of this valuable resource.

“This underperformance can be attributed to gas flaring, inadequate infrastructure, pricing concerns, policy and regulatory gaps, and limited funding.

“It also include environmental concerns, the growing urgency for a smooth energy transition as well as a lack of comprehensive gas development blueprint,” he said.

The minister said that the government was committed to developing an adaptable roadmap that reflects collective intelligence.

He also said that the government would learn collaboratively and act decisively to create an environment that fosters growth, innovation, and sustainable development.

Amb. Nicholas Ella, Permanent Secretary of the ministry, stated that the challenges and opportunities within the gas sector are vast, ranging from technological advancements to environmental considerations and economic implications.

“It is through open and transparent discussions like this that we can uncover synergies, address concerns, and collectively arrive at solutions that not only meet the needs of the present but also ensure a sustainable and prosperous future.”

Alhaji Abubakar Shettima, National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed readiness to collaborate with the government towards the actualisation of the Compressed Natural Gas (CNG) and LPG use.

“IPMAN has the highest number of retail outlets nationwide for LPG and that of CNG will increase through our full partnership in the gas programmes of the government.

“Though the cost of LPG is a bit higher but when you compare with other sources of energy, LPG is still cheaper than kerosene. There is need to reduce the cost of petroleum products through the use of CNG,” he said.

Mr Osagie Okunbo, Chairman, Oil Producers Trade Section (OPTS), said it was looking forward to translate the gas framework on ground into reality in view of the abundant gas resources.

He added that it was being owed 1.3 billion dollars for gas that has been produced and sold in the past.

Okunbo said that this was a key issue in the gas discussion the meeting was having, urging that producers be encouraged through appropriate mechanism.

“The government should ensure that the price set for gas is such that will enable gas production.

“Gas price is due for review in April; we will be making our inputs known to the authority to make sure the price is cost reflective,” he said.

The News Agency of Nigeria (NAN) reports that the stakeholders’ engagement aimed at harnessing collective wisdom, experiences, and insights of key players in the private sector.

It is expected to produce constructive recommendations to resolve issues and chart the way forward for the industry. (NAN)(www.nannews.ng)

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Edited by Ismail Abdulaziz

By Emmanuella Anokam

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that Oil and Gas assets in Nigeria can only be transferred in accordance with the requirements of the Petroleum Industry Act (PIA 2021).

NUPRC said that assets could be transferred in accordance with PIA (where applicable), the Guidelines and Procedures for Obtaining Minister’s Consent to the Assignment of Interest in Oil and Gas Assets, 2021 (together with the “Applicable Laws”).

Mr Gbenga Komolafe, the Commission’s Chief Executive (CCE), made this known in a statement on Saturday while reacting to the ongoing social media discussions that certain International Oil Companies have completed sales of some of their assets to some indigenous companies.

Komolafe said that the transfer could only be consummated upon the grant of Ministerial Consent, following a recommendation from the commission, and satisfaction of the conditions for the grant of the consent by the Minister.

“The attention of the NUPRC has been drawn to the ongoing discussions in the social media suggesting that certain International Oil Companies (“Divesting Companies”) have completed the sale of some of their oil
and gas assets to some Nigerian companies.

“NUPRC wishes to clarify that oil and gas assets in Nigeria can only be transferred in accordance with the requirements of the PIA, Petroleum Act (where applicable), the Guidelines and Procedures for Obtaining Minister’s Consent to the Assignment of Interest in Oil and Gas Assets, 2021 (together the “Applicable Laws”).

“Under Nigerian law, while the entering into of a Sale and Purchase Agreement (SPA) between an assignor and an assignee constitutes an agreement to sell the relevant licence or lease in accordance with the terms of the SPA, the transfer can only be consummated upon the grant Of Ministerial Consent,” he said.

Furthermore, Komolafe said that the Commission’s recommendation to the Minister to grant Ministerial Consent for the transfer of a licence or lease will be based on a detailed and diligent review of the transaction by the commission.

This, he said, would ensure the acquirers had the requisite competence in technical and financial ramifications, fulfilment of decommissioning and abandonment obligations; sustainability of environmental, social and corporate governance.

Komolafe said the review would ensure compliance with host community obligations, industrial and labour relations framework, confirmation that there are no legal encumbrances hindering the consummation of the transaction.

He added that it would ensure that the acquirers are fit and proper persons and acceptable to the Federal government of Nigeria.

Ko,olafe said, “These are criteria for the continued operational efficiency and effectiveness in the operations
of the assets to ensure a sustainable increase in Nigeria’s oil and gas reserves and production.

“The Commission wishes the public to note that all the Divesting Companies and their potential assignees are familiar with the divestment process under the Applicable Laws and are currently complying with the relevant requirements.

“Accordingly, the general public is invited to note that the assets purported to have been sold by the Divesting Companies cannot be deemed sold yet, as the Commission is currently carrying out due diligence on the transaction.

“This will ensure that the divestment does not result in unwarranted liabilities for the Federal Government of Nigeria.” (NAN)(www.nannews.ng)

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Edited by Bashir Rabe Mani

By Emmanuella Anokam

President Bola Tinubu has ordered the Attorney-General of the Federation, Lateef Fagbemi to clear court cases on 1.3 billion dollars Deepwater OML 245 oil block in Niger Delta.

Others that received the directive are the Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, and the Economic and Financial Crimes Commission (EFCC).

The rest are the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian National Petroleum Company Limited (NNPC Ltd).

Lokpobiri said this in Abuja on Wednesday while speaking with newsmen.

The News Agency of Nigeria (NAN) reports that the Federal Government had in 1998 awarded the Oil Mining Lease (OML) 245 to Malabu Oil and Gas Ltd. for 20 million dollars.

The license covers a defined deepwater offshore area more than 1,000 metres below sea level and approximately 150 km off the Niger Delta.

However, with progress in the awards, this has turned out to be a pain. It has been a constant source of litigation for successive governments due to allegations surrounding fraud and corruption in awarding the licence.

The minister said that parties involved in the deal were currently negotiating to end the more than 28 years crisis and litigations surrounding the prolific oil block located in southern Niger Delta in the next one month.

“The previous administration initiated most of the cases that we are talking about today, and they took us to court, while we took Eni, Malabu, others to different courts in Europe, Canada, etc, but we didn’t win any of the cases.

“To even shock you, there is one that got us a penalty of over 70 million pounds,” he said.

He said that JP Morgan, a financial institution sued the government for trying to dent its image in the saga, adding that the penalty was now binding on Nigeria.

“So we have been fined over 70 million pounds by the court. Who will pay that? You and I will pay that, or our children will pay, because it is a judgement debt.

“And in all the ones that we pursue both in Switzerland and other locations, we have no evidence to get conviction.

“And so it makes sense for this government to come and say that for 28 years, this block has been idle.

“This block is a prolific block that will add so much value to our economy, so let’s see how we can resolve the problem,” he said.

He said they were in talks with Eni and Shell, to see how they can resolve all the problems.

He said that at the last meeting, it was agreed that parties should go on with negotiations and to reconvene within one month to see how we will be able to sort out all the issues so that the investment can continue.

According to him, the parties of the Federal Government interfacing with Eni and Shell, is the Attorney-General of the Federation, which leads the delegation.

It includes NUPRC, EFCC, NNPC Ltd., and the Minister of State for Petroleum Resources.

“We are transparent about this process. We have full government support in resolving this matter. Everything is being done transparently.

“This process has nothing to benefit the President as an individual, his interest is the welfare of Nigerians and to attract investments to the sector for Nigerians to benefit from God-given natural resources,” the minister said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

By Emmanuella Anokam

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has held talks with a South Korean consortium led by Daewoo E & C on the development of gas projects in Nigeria.

The Group Chief Executive Officer of NNPC Ltd., Mr Mele Kyari, led the company’s team to the discussions held in Seoul, South Korea.

This is contained in a statement by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. on Tuesday in Abuja.

Soneye said the talks aimed at deepening its drive to tap into the nation’s vast gas resources to be a supplier of clean energy to the global market.

South Korea, a major destination for Liquefied Natural Gas (LPG) exports and the consortium, in collaboration with the Korean Export-Import bank, has expressed interest in advancing discussions on investing in greenfield and other gas development opportunities.

The talks would pave way for the execution of a Memorandum of Understanding to unlock strategic foreign direct investment in line with the President Bola Tinubu administration’s policy of making Nigeria a prime destination for global investors.

Kyari congratulated Temile Development Company, an indigenous player in the gas sector, on the commissioning of its 23,000 cubic meters ultra-modern LPG Carrier in Ulsan, South Korea.

The GCEO said that the vessel named, Alfred Temile 10, represented a significant stride towards deepening the utilisation of gas in-country and growing gas revenues.

“It is great that Temile Development Company is able to complete the construction of the 23kt LPG vessel.

“This will go a long way in improving access to LPG in the domestic market and provide cleaner fuel in our country.

“Nigeria’s objective is to ensure that everyone has access to clean energy and particularly walk away from bio-mass as a source of energy. We know this is good and that is why we will continue to support it,” Kyari said in the statement.

He further said that NNPC Ltd, alongside its partner West Africa Gas Ltd (WAGL), was building its own vessels to boost LPG supply in Nigeria with a view to saturating the market. (NAN)(www.nannews.ng)

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Edited by Rabiu Sani-Ali

By Constance Athekame

The Minister of Innovation, Science and Technology, Mr Uche Nnaji, has reiterated the need for Nigeria to produce green hydrogen as sustainable pathway for alternative energy generation.

Nnaji stated this at the Kick-off Meeting/Stakeholders’ Interaction on the Nigeria 4H2 Project (Nigeria for Hydrogen) in Abuja on Tuesday.

The meeting is themed “A Critical Analysis of the Potentials, Infrastructure and Other Enabling Framework Conditions for Green Hydrogen to Fertilizer Production in Nigeria”.

The News Agency of Nigeria (NAN) reports that green hydrogen is a clean burning fuel that eliminates emissions by using renewable energy to electrolyse water.

It also  separates  the hydrogen atom within it from its molecular twin oxygen.

The minister said that green hydrogen serves as viable and sustainable pathways for alternative energy generation among others.

“It offers excellent potential to address the detrimental impacts of climate change occasioned by the release of greenhouse gases from fossil fuels into the environment.

“As you are very much aware, exploiting Nigeria’s green hydrogen potential is at the heart of the Renewed Hope Agenda of President Bola Tinubu.

“Therefore, there is no better time for the country to plug into this opportunity to avoid playing catch-up with the western world.

“As a country, Nigeria must play a critical and leading role in the global energy transition,” he said.

According to him, the country enjoys abundant sunshine, with an average of 11 hours of sun daily. Hence, it has immense solar radiation potential to power electrolysers for hydrogen production.

“This potential makes Nigeria a critical stakeholder in the world energy transition.

“The concerted efforts of scientists, engineers, policymakers, and industries are necessary to achieve the tall vision of a net zero carbon environment and sustainable agriculture.

“The great importance placed on considering different pathways to industrialising the country accounts for the presence of critical ministers / ministries in this event.

“ We must explore new sources and advance in science and technology.

“Thus, we are partnering with the consortia as a service ministry to connect all stakeholders in the hydrogen sector’s upstream, midstream, and downstream sectors,” he said.

Nnaji said that the ministry also 1 intend to facilitate an environment for co- development of a national policy framework for green hydrogen by all stakeholders.

“This will ensure the sector’s rapid, robust and all-inclusive development.

“I believe at the end of this meeting, all the stakeholders would have jointly identified, and situated the expected players in the emergent hydrogen industry value chain in Nigeria,” he said.

Also speaking, Mr  Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), said that the country was endowed with rich oil and gas resources.

He said that the country occupies a unique position to leverage its expertise and infrastructure in transitioning towards our hydrogen potential.

Ekpo was represented by the Permanent Secretary in the  Ministry, Amb. Nicholas Ella.

He said that the prospect for synergy between conventional and sustainable energy was vast, and urged stakeholders to seize the opportunity of the workshop to diversify their energy portfolio.

According to him, ther workshop serves as a nexus for collaboration where industry leaders, policymakers, and innovators converge to carve a sustainable path forward.

“ Together, let us explore the delicate balance between maintaining the resilience of our oil and gas sector and fostering the growth of green technologies.

“In my capacity as the minister of state, petroleum resources – gas (HMSPRG), I am dedicated to steering this transition with strategic policies that align with our national interest.

“ Let us collectively pioneer a roadmap that not only ensures the sustainability of our energy sector but also position the country as a key player in hydrogen technologies,” he said.

Prof. Kehinde Ogunjobi, Interim Executive Director, West African Science Service Centre on Climate Change and Adapted Land Use (WASCAL), said that the  meeting was a proof of stakeholders’ commitment to inclusivity and collaboration in green hydrogen.

“We have gathered here not only as individuals but as representatives of diverse sectors-government, industry, academia, and civil society.

“This workshop is designed to be a space for open dialogue, where each perspective, contribution and reflection will be instrumental in shaping the roadmap.

“ It will guide us toward a future where green hydrogen and fertiliser production will contribute to driving sustainable development in Nigeria,” he said. (NAN)(www.nannews.ng)

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Edited by Joseph Edeh

By Angela Atabo/Diana Omueza

The Northern Youth Progressive Network has lauded Malam Mele Kyari, the Group Managing Director, Nigerian National Petroleum Corporation Limited (NNPCL), over his plans to engage private outfit to guard nation’s oil facilities against theft.

The Convener of the network, Mr Bala Mohammed, said this at a news conference on safeguarding of the nation’s critical oil infrastructure in Abuja on Monday.

Mohammed said that the spate of oil theft in the country had become worrisome and there was need to address it headlong.

He commended Nigerian security outfits that had been working to curtail oil theft, adding that the private security outfit would provide more support.

“The Northern Youth Progressive Network expresses our strong support for the decision of our leader Malam Mele for thinking outside the box and engaging the services of private security outfit, Tantita Security Services Nigeria limited.

“Importantly also, we salute President Bola Tinubu for renewing the contract engagement. We only had thought that it will be expanded to cover the entire Niger-Delta.

“We consider the decision of Malam Mele Kyari as patriotic and noble just like the decision of late President Umaru Musa Yar’adua who granted amnesty to Niger- Delta militant that provided a lasting solution to the crisis in the Niger-Delta.

“We are optimistic that the engagement of Tantita Security services Nigeria limited, will bring a permanent solution to the issue of oil theft in Nigeria,’’ he said.

Mohammed said that the Niger Delta played a crucial role in Nigeria’s economy being home to significant oil and gas reserves.

He said to this end, the infrastructure that supported the extraction, production, and transportation of the resources was of utmost importance to the nation’s overall stability and prosperity.

“ However, we have witnessed a series of attacks, sabotage, and vandalism directed towards these critical oil infrastructures, leading to immense economic losses and disruptions.

“We also acknowledge that sustainable development in the Nigerian state is interconnected with the security of oil infrastructures.

“ It is imperative that we address the underlying issues that contribute to attacks on these facilities, such as community grievances, environmental concerns, and socio- economic challenges,” he said.

Mohammed, therefore, called on the Tantita Security Operations to work in tandem with comprehensive development initiatives to prioritise the welfare and well-being of the local communities.

He also stressed the need to curb oil spillage which had devastating consequences on the livelihoods of local communities, particularly those dependent on fishing and farming.

He said that the loss of means of sustenance had led to economic hardships and food insecurity in the Niger Delta in spite of being a region rich in natural resources.

He called on the Federal Government not to undermine the genuine commitment of Tantita Security Services over the years as they had been able to arrest Mt Kali vessel at the Pennington oil platform in Bayelsa and several others.

Mohammed said that the Tantita security services had also done well by protecting Nigeria’s national assets in the oil sector which was evident in the increase in crude oil output from 500 thousand barrels per day to 1.8 million barrels per day.

“Our position is that there must be arrest, prosecution confiscation of assets both in liquid and valuables to serve as deterrence to those who are hell bent in economy sabotage no matter whose ox is gore,’’he said.

Mohammed called on the government to demonstrate the political will in the fight against oil theft in Nigeria by prosecuting those investigated by Tantita Security Services and make the investigation public.

“As representatives of the most critical youth structure in the North, we recognise the vital role that secure and functional oil infrastructures play in our nation’s development.

“The revenue generated from the oil and gas sector drives economic growth, funds critical social programmes, and provides employment opportunities for millions of Nigerians.

“So protecting these infrastructures is not only crucial for the region but for the entire country,’’he said.(NAN)(www.nannews,ng)

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Edited by Abiemwense Moru/Ali Baba-Inuwa

By Taiye Agbaje
The Odinala Cultural Heritage Foundation, also known as OCHIE Igbo, has called for the review of the Nigeria Gas Expansion Programme (NGEP) to accommodate the south-east and south-south.
The socio-cultural group made the call in a letter to the National Assembly titled: “Request for the Inclusion of the South-East and South–South Regions in the NGEP: Request for Partnership.”
The letter, jointly signed by the group’s Chairman, Board of Trustees, Benedict Okoro, and its National President, Dr Chukwuma Orji, was made available to newsmen in Abuja.
The group demanded the inclusion of South-East and South-South in the Ajaokuta-Kaduna-Kano (AKK) Project and National Gas Masterplan.
It said it observed the exclusion of the regions in the multi-million-dollar project, “which runs from Kogi State through Kaduna, Kano States and Niger Republic,” in spite of the substantial gas deposits in the Niger Delta, Enugu, Imo and Abia.
“Conversely, there is no known and exploitable natural gas along the Ajaokuta-Abuja-Kaduna-Kano axis of the natural gas pipeline which former President Muhammadu Buhari commissioned on June 30, 2020,” it said.
“We are therefore employing dialogue and quiet diplomacy to achieve the following objectives:
“That the policy introducing the NGEP be reviewed and further expanded to accommodate the south-east and south-south regions.
“That a gas power plant of about 1,000, 000 cubic liters’ capacity be headquartered in Imo State, as the backbone of an industrial park in the region.
“This could power emergent industries with steady energy and serve as economic indemnity for the south-east people,”
“That the quantum of gas deposit in the south-east is sufficient enough to serve as an insurance to the Nigerian Senate and Federal Government to pass and assent to the Bill seeking the establishment of the Southeast Development Commission (SEDC) and a Ministry for Southeast Affairs.”(NAN)(www.nanews.ng)
TOA/SH
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By Emmanuella Anokam

The Global transparency body, Extractive Industries Transparency Initiative (EITI), has scored the Nigerian National Petroleum Company Limited (NNPC Ltd) very high in its latest global assessment.

The EITI’s Deputy Executive Director, Mr Bady Baldé, made this known when he led an EITI delegation to the Group Chief Executive Officer of NNPC Ltd, Mr Mele Kyari, in Abuja.

Baldé, in a statement by the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, said the delegation’s visit was to communicate the group’s findings in its recent global assessment to the company.

He said that NNPC fared very well among companies in the same category, adding that only Equinox of Norway fared better than NNPC in the assessment.

He, however, said there was still room for NNPC to improve, adding that compliance with global EITI standards would help boost the company’s credibility.

The EITI boss also urged NNPC Ltd. to remain engaged to play an active role in its Nigerian unit, the Nigeria Extractive Industries Transparency Initiative (NEITI).

Earlier, Kyari highlighted some of the key changes in the operations of the NNPC Ltd., since its transformation into a commercially focused limited liability company in 2021.

He acknowledged that the NNPC Ltd.’s partnership with EITI/NEITI had made it a much more reliable company.

He expressed disappointment with NEITI for going public with its report that NNPC Ltd. failed to remit some monies into the Federation Account instead of seeking clarification on any perceived gap in its assessment.

Kyari explained that NNPC Ltd was holding no public funds back.

He added that what NEITI reported as non-remittance was what was due to the company as payment for taking the burden of fuel subsidy on behalf of the Federal Government.

He disclosed that NNPC Ltd. would have released its Audited Financial Statement (AFS) for 2022 since June 2023 but could not do so because it had no substantive Board of Directors at that time.

On his part, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, called for the reconstitution of the NNPC/NEITI Joint Committee on Reconciliation, adding that the committee could help in straightening grey areas. (NAN)(www.nannews.ng)

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Edited by Ifeyinwa Omowole

By Emmanuella Anokam

The Nigeria Extractive Industries Transparency Initiative (NEITI) says it will unveil its 2022/2023 reports on oil, gas and solid minerals industries on Sept. 24.

Executive Secretary, NEITI, Dr Orji Ogbonnaya Orji, said this at the global Extractive Industries Transparency Initiative (EITI) media briefing in Abuja.

He said NEITI focuses more on content and that the two separate reports would be presented simultaneously to ensure current and globally acknowledged reliable data.

The News Agency of Nigeria (NAN) reports that the international partner, EITI is on a mission to Nigeria to assess NEITI’s post validation plans and how to support the EITI implementation in Nigeria.

The international delegation was led by Dr Bady Balde, Deputy Executive Director, Global EITI Secretariat.

Orji said some local challenges, including time of resettlement affected the production of the reports, adding that the challenges had been sorted out and by September the reports would be published.

He said it received the delegation of its international partners, following the performance of Nigeria in the last EITI validation that was conducted, adding that the visit would feature knowledge sharing and capacity building, among others.

“Validation is a global assessment that holds all implementing countries to the same standard and Nigeria scored 72 per cent, excelled and recorded over 90 per cent in quality and reliability of data.

“Their visit is timely because we are trying to align our operations and mandates to the priorities and strategic development goals of the renewed hope agenda of the President Bola Tinubu administration,” he said.

The executive secretary said the organisation also had engagement with the National Assembly on the review of the NEITI Act and received assurances that it would be taken seriously.

He said the idea was to align the NEITI Act with the Petroleum Industry Act (PIA 2021) and the current economic realities of the government, which was focussing more on revenue.

“We have done an in-house review of that Act and are seeking legal opinion. Consultants are working on it, while we are working with the national assembly to see how to help us,” he said.

He said his management had looked at the EITI 23 standard agreed upon in Senegal and emerging issues in the global EITI, which included energy transition, contract transparency and beneficial ownership.

According to him, the issues also include open and accessible data, climate change and gender inclusiveness, environment and a number of areas where the law is deficient.

“We also want to see what could be done to make NEITI less dependent on government for funding.

“Also to see if there are windows where our reports which usually lead to recovery of huge revenue could aid in giving some soft landing in terms of supporting government for funding instead of relying wholly on government,” he said.

Speaking earlier, Balde had expressed dissatisfaction with the publication of old data, adding that timeliness of data was necessary to cover current relevant issues.

Balde said data publishing should not be delayed, adding that many countries had gone far in producing data in the public domain including Senegal, Zambia, Norway, among others.

Balde, while describing NEITI as the largest secretariat by staff in the world with twice the number of staff at its headquarters, called for more technical assistance, engagement and timely data publication to avoid speculation.

He urged the internal governance of NEITI to sustain its principle and uphold values by practicing what it preached and maintain highest level of transparency and credibility.

He supported the amendment of NEITI’s act to address the imperfections of the law. (NAN)(www.nannews.ng)

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Edited by Salif Atojoko