Togo publishes 2010 mineral and oil revenues
On 12 April, Togo published its first EITI Report on revenues from the extractives sector in 2010. Revenues from the water sector are included in this report, as water is considered by the Mining Code of Togo to be an extractive resource like phosphate and iron. The Togolese government has collected nearly US $ 60 million in royalties and taxes from 17 different mining companies and these companies have said to have paid just over US $ 62 million. This creates a discrepancy of about 5%.
The figures released show that the revenues generated by extractive industries amounted to 10% of the total revenues of the Togolese government. The report provides a comprehensive overview of companies operating in Togo as well as information about their social contributions. It also notes that the industry built around water extraction attracts multinational companies such as the Castel Group and SAB Miller through their local subsidiaries and represents 39% of revenues from the extractives sector.
"With this first report, the Togolese people have the chance to see the transparency of revenues from the extraction of natural resources become a reality," said Didier Kokou Agbémadon, National Coordinator of EITI Togo. "We hope that this report will strengthen the governance of these resources so that the wealth generated benefits all.”
According Todzro Mensah, a civil society activist and EITI Togo steering committee member, the report is an important step in the dissemination of clear information regarding the contribution of mining, oil and water to the Togolese economy. "We ask now that appropriate measures be taken to address weaknesses in the collection and auditing of income.”
The 2010 report will be translated into Ewe and Kabiye, the most important local languages, and published on the web portal of the President of the Republic, the Prime Minister's Office and the Ministry of Mines, pending the launch of the EITI Togo website.
In October 2010, Togo gained EITI Candidate status. The world’s fifth largest producer of phosphates, Togo also has limestone, marble, iron and oil reserves offshore.
For more information on EITI implementation in Togo, please visit: http://eiti.org/Togo.