About Us

Nigeria was the first country in the world to take practical steps to implement the Extractive Industries Transparency Initiative (EITI). It was also the first to institutionalize EITI implementation through a triple mechanism:

  • The NEITI Act 2007
  • A National EITI Secretariat with full-time staff
  • An annual budget and legislative oversight

Brief History About NEITI

In 2003, Nigeria voluntarily signed up for the global EITI framework. This decision was part of the Federal Government’s socio-economic reform program during the second term of President Olusegun Obasanjo.

The reform agenda, encapsulated in the National Economic Empowerment Development Strategy (NEEDS), focused on:

  • Improving Nigeria’s macroeconomic environment
  • Pursuing structural reforms
  • Strengthening public expenditure management
  • Implementing institutional and governance reforms

Establishing NEITI was a key part of institutional and governance reforms, aimed at ensuring prudent management of Nigeria’s natural resources for poverty reduction and sustainable development.

EITI and NEITI

The Extractive Industries Transparency Initiative (EITI) operates on the principle that transparency and accountability in managing natural resources can lead to sustainable development.

Nigeria Extractive Industries Transparency Initiative (NEITI) represents Nigeria’s adaptation of this global standard. It emphasizes:

  • Transparency in revenue management
  • Government accountability to citizens
  • Multi-stakeholder engagement, including civil society participation

With headquarters in Oslo, Norway, EITI is implemented in over 53 countries worldwide.

Mission

To institutionalize accountability and transparency mechanisms in Nigeria’s extractive sector for the benefit of all.

Vision

A Nigeria whose extractive sector is transparent, accountable, and beneficial to all Nigerians.

Core Values

NEITI’s work is driven by:

  • Transparency
  • Accountability
  • Integrity
  • Stakeholder engagement

Mandate

NEITI is mandated to:

  • Promote transparency and accountability in the extractive industries
  • Conduct independent audits of oil, gas, and solid minerals revenue
  • Provide evidence-based policy recommendations
  • Engage stakeholders and educate the public
  • Align Nigeria’s extractive industry governance with global EITI standards

Governing Structure

The National Stakeholders’ Working Group (NSWG) is the governing board of NEITI. It is led by the Secretary to the Government of the Federation, Senator George Akume, along with 14 other members. The NSWG provides policy direction, oversight, and monitoring of the EITI process in Nigeria.

Functions of NSWG

  • Formulates policies and strategies for NEITI
  • Approves NEITI’s budget and work plans
  • Reviews program performance periodically
  • Appoints reputable audit firms for annual sector audits
  • Ensures compliance with the NEITI Act 2007

Appointment, Composition, and Tenure

  • The NSWG is appointed by the President of Nigeria
  • Members serve a single term of four years
  • The Executive Secretary (CEO) serves a single term of five years

Strategic Plan

The NEITI Strategic Plan outlines the long-term vision, goals, and objectives for strengthening Nigeria’s extractive sector. It aims to:

  • Enhance transparency and accountability
  • Improve resource governance impact on citizens’ lives
  • Move beyond audits to deeper reforms

Stakeholders

NEITI/EITI operates on a multi-stakeholder framework comprising:

  • Government agencies (collecting and managing revenues)
  • Oil, gas, and solid minerals companies (extracting resources)
  • Civil society organizations (advocating for transparency and accountability)

These stakeholders collaborate to ensure responsible management of Nigeria’s natural resources.

Objectives

NEITI seeks to:

  • Ensure transparency and accountability in extractive industry revenue management
  • Promote sustainable development through efficient resource governance
  • Enhance public understanding of the extractive sector’s contributions
  • Align Nigeria’s extractive industry governance with global best practices
  • Build trust and collaboration among stakeholders

Timeline of Key Milestones

NEITI’s strategic priorities focus on:

  • Improving Nigeria’s macroeconomic environment
  • Pursuing structural reforms
  • Strengthening public expenditure management
  • Implementing institutional and governance reforms

Services Rendered

NEITI provides the following services:

  • Conducting sector-wide audits
  • Developing transparency frameworks
  • Engaging stakeholders on findings and recommendations
  • Offering policy advice for improved governance
  • Aligning Nigeria’s extractive industry governance with international EITI standards