By Business A.M.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has played a significant role in the promotion of reforms that boost revenue generation for the federation but its performance is being hindered by low operating revenue.
Ogbonnaya Orji,the executive secretary of NEITI, stated this recently during the launch of the reporting frameworks for gender and the environment in the Nigeria extractive industry by the ministry of finance, budget & national planning,at the NEITI House in Abuja.
Orji explained that the NEITI Act is currently being reviewed to seek ways and means of augmenting government support.
“The tragedy that we face is that we incentivised revenue generation but while our reports may lead to revenue generation to sister agencies that also take some percentages, NEITI walks home empty handed,” he said.
The NEITI executive secretary further noted that the review of the NEITI Act is focused on innovations that will enable the initiative to operate with less government funding and dependency and function more effectively as the watchdog of the extractive sector.
On a positive note, Orji said Nigeria has emerged as the first of the 53 member countries of EITI to have a permanent office and has received worldly acknowledgement for the feat.
According to the report, women and children suffer the worst health challenges arising from emission and environmental pollution.
On her part, Zainab Ahmed, the finance minister, urged the incoming government to strengthen transparency of agencies.
“Let me also use this opportunity to appeal to the incoming administration to strengthen anti-corruption agencies and reform-minded institutions like NEITI in its economic policy agenda, considering the agency’s unique national and international mandates,” the minister said.
