Progress Report 2017: Ending company anonymity – the key to fighting corruption

Analysing impact

  • 2300669819757 USD
    revenues disclosed in EITI Reports

Putting EITI information to use is key

The EITI has made significant contributions to improved governance of the extractive sector in several countries around the world. As this report shows, in countries like the Democratic Republic of the Congo, the EITI has been central to many reforms of the sector.

At the international level, debates on transparency in the sector are unrecognisable from 10 years ago, and the EITI is seen as being at the forefront of many frontier debates, including beneficial ownership, commodity trading and artisanal and small-scale mining.

It is also clear that the EITI process is one of the only functioning global mechanisms to inform and channel debate in resource-rich countries in a way that includes all stakeholders. In the development business, there can often be a naïve belief in figures. While it is important to have quantitative information, it is even more important to have the right kind of information and to have it used. Recognising the large diversity of country processes and objectives, any monitoring and evaluation framework has to be established first and foremost at the country level. When Nigeria recovers USD 2.4 billion or undertakes reforms that will improve revenue collection by 10s of billions a year through its EITI process, to what extent is that a consequence of the USD 5m a year spent on the international process?

EITI reporting is becoming more timely

Keeping up with the debate

Timeliness of EITI reporting improved by 23.4% between 2010 and 2015.