Leverage EITI validation to boost oil, mining transparency, FG urges stakeholders

The Federal Government has urged stakeholders in Nigeria’s extractive industry to use the 2026 Extractive Industries Transparency Initiative Validation Exercise as an opportunity to strengthen transparency, accountability and governance reforms in the sector.

The government said the validation exercise should go beyond compliance by serving as a platform for institutional reforms that would improve public trust, attract investment and ensure the sustainable management of Nigeria’s natural resources.

The Secretary to the Government of the Federation and Chairman of the National Stakeholders’ Working Group, Senator George Akume, stated this on Monday while declaring open a three-day Joint Strategic Retreat for members of the National Stakeholders’ Working Group and the Senior Management Team of the Nigeria Extractive Industries Transparency Initiative in Abuja.

The retreat, themed “Strengthening EITI Implementation from Extractive Sector Reporting to Impact,” is part of preparations for Nigeria’s forthcoming EITI Validation Exercise by the international body.

According to a statement issued by the Office of the Secretary to the Government of the Federation on Monday, Akume charged stakeholders to see the validation as “a strategic opportunity to deepen transparency, strengthen accountability and entrench good governance for sustainable national development.”

He commended the National Stakeholders’ Working Group and the NEITI Secretariat for their commitment to advancing transparency and accountability in the country’s extractive industry.

“I commend the significant work already undertaken by NEITI, particularly in making the submission to EITI and the various on-going strategic engagements with stakeholders in preparation for the forthcoming visit of the EITI International Validation Team. These efforts demonstrate Nigeria’s commitment to an inclusive, transparent and credible Validation process”, the statement quoted Akume as saying.

The SGF stressed that the success of EITI implementation should not be measured solely by the number of reports produced but by the impact of transparency on governance and development.

He said, “Success in EITI implementation should not be measured merely by the number of reports produced or the volume of information disclosed, but by the extent to which transparency strengthens public institutions, enhances investor confidence, restores public trust in resource governance and contributes to sustainable national development.”

Akume noted that the 2023 EITI Standard places greater emphasis on systematic disclosures, beneficial ownership, contract transparency, state-owned enterprises, anti-corruption measures, environmental reporting, energy transition and meaningful stakeholder participation.

He said the priorities align with the Renewed Hope Agenda of President Bola Tinubu’s administration, adding that Nigeria remained committed to implementing the reforms.

Describing the forthcoming validation exercise as a critical milestone, Akume said it would provide Nigeria with an opportunity to demonstrate progress in strengthening governance in the extractive sector while addressing outstanding corrective actions.

He reaffirmed Tinubu’s commitment to providing the leadership needed to ensure effective implementation of EITI across relevant government institutions.

According to him, the validation process remains a vital mechanism for strengthening public confidence in the management of Nigeria’s natural resources.

The SGF also applauded NEITI for the progress recorded in preparing for the validation exercise, particularly its submission to the EITI International Secretariat and ongoing engagements with stakeholders ahead of the visit of the EITI International Validation Team.

He urged participants at the retreat to review existing achievements, deepen collaboration, address outstanding priorities and develop practical strategies that would guarantee a successful validation outcome while driving long-term governance reforms in the extractive sector.