The Board agreed that Nigeria has made satisfactory progress overall with implementing the EITI Standard.
Description: see below for the decision in full and PDF attached.
Where: 42nd Board meeting in Kyiv
- Internal: Board Paper 42-5
- Public domain:
Keywords: Validation; Nigeria
The EITI Board agrees that Nigeria has fully addressed the corrective actions from the country’s first Validation. Consequently, Nigeria has made satisfactory progress overall with implementing the EITI Standard.
The Board commends Nigeria’s efforts to use the EITI as a key multi-stakeholder consultation platform to proactively drive the natural resource governance debate and as a tool for reforms in government and extractives company systems. The second Validation has confirmed Nigeria’s efforts to use the EITI as a crucial diagnostic of oil and gas industry oversight to support reforms of state participation, license management and off-budget revenues. While discrepancies between rules and practice in the governance of the extractive industries persist, the Board considered that the latest EITI disclosures adequately reflected practical challenges in the mining, oil and gas sectors.
The Board welcomes ongoing efforts to consider opportunities to improve systematic government and company disclosures of data required under the EITI Standard. The Board takes note of these developments and looks forward to working together with Nigerian stakeholders on these issues.
Nigeria should continue to ensure adherence to the EITI Principles and Requirements while strengthening transparency in the operations of its state-owned enterprises. Where concerns are raised about whether implementation of the EITI has fallen below the required standard, the EITI Board reserves the right to require the country to undergo a new Validation. In accordance with Requirement 8.3.b, stakeholders may petition the EITI Board if they consider that Nigeria’s status should be reviewed. Otherwise, in accordance with Requirement 8.3.d.i, Nigeria will be revalidated in three years, with the next Validation commencing on 27 February 2022.
The government and the MSG are encouraged to consider the recommendations in the Validation Report and the International’s initial assessment that could help Nigeria make ever greater use of the EITI as instrument to support reforms, and to document the MSG’s responses to these recommendations in the next annual progress report.