Malawian investors to explore Nigeria’s oil, gas transparency initiative

A high-ranking delegation from Malawi is expected to arrive in Abuja this week on a study of Nigeria’s implementation of the global Extractive Industries Transparency Initiative (EITI).

While in Nigeria, the Malawian delegation will undertake a one week study of Nigeria’s implementation by NEITI, of the principles of the global Extractive Industries Transparency Initiative.

The study will examine how NEITI interventions through its reports and advocacy, support the on going reforms in the country’s oil, gas and mining sectors and how Malawi can benefit from this experience.
The delegation is to be received on arrival by the Executive Secretary, Waziri Adio at the NEITI Secretariat Abuja. Malawi, with a population of about eighteen million people is in Southern Africa. The country is rich in solid mineral resources such as uranium, coal and gemstones.Malawi joined the global EITI on 22nd October, 2015, while Nigeria is a founding member of the organisation since 2003. While the implementation of EITI in Malawi is currently at its infancy, as the country is yet to publish any EITI Reports, Nigeria is a ranking member and attained complaint status in 2012, won the best implementing country at the 6th global conference of the organization held in Sydney, Australia in 2013, and has published several independent audit reports in oil and gas industry since 2004 . Nigeria has also published similar reports in solid minerals, fiscal allocation and resource disbursements.

Besides, Nigeria’s implementation of EITI is supported with a specific law, the NEITI Act of 2007. Among the 54-member–country world body, Nigeria through the work of NEITI is largely seen as a model worthy of emulation.

While in Nigeria, the Malawian EITI team led by the Chairman of the country’s multi-stakeholders group, Kulemeka Crispen Clemence is expected to understudy NEITI’s processes, its mandates, challenges, and success stories in its operations.

Other areas of interest to the team will include NEITI relations with its multi-stakeholders group like the civil society, the media, the extractive industry companies, government and other covered entities.

In this direction, the team is scheduled to meet with Dr. Kayode Fayemi, Minister of Mines and Steel Development and the Chair of National Stakeholders Working Group (NEITI Board).

The team will also pay a courtesy visit to Zainab Ahmed, a member of EITI International Board and Nigeria’s Minister of State for Budget and National planning as well as other notable champions of EITI implementation in Nigeria.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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