Chad has become a Candidate country within the Extractive Industries Transparency Initiative (EITI), the global standard for improved transparency in the oil, gas and mining sector. This was announced by the EITI International Board after its meeting in Berlin on 16 April 2010.
The Minister of Petroleum and Energy of Chad, HE Tabe Eugene N’Gaoulam, present at the meeting of the EITI Board, said that stakeholders had already established a lively dialogue, to which the Government of Chad was committed. The Minister called for international support for their efforts to improve transparency, including support by neighbouring EITI implementing countries, Nigeria and Niger. EITI Chairman Peter Eigen welcomed Chad on behalf of the Board and emphasised the need to ensure that the country receives all the required support to implement the EITI.
In following the EITI standard, the government of Chad commits to publish all payments of taxes, royalties and fees it has received from its extractive sector. Equally, extractive companies operating in Chad will publish what they have paid to the government. Overseen by a multi-stakeholder group with representatives from national government, companies and civil society, these figures will then be reconciled and published in an EITI Report.
Chad now has until 15 April 2012 to implement the EITI standard and complete an EITI Validation in order to become an EITI Compliant country.
Picture above: EITI Chairman Peter Eigen congratulates Minister of Petroleum and Energy of Chad, HE Tabe Eugene N’Gaoulam.