EITI declares NNPC transparent for monthly disclosure

ABUJA, Nigeria – The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend with the conferment of the highest discloser status by the global extractive industries watchdog, Extractive Industries Transparency Initiative (EITI).

The accolade is the most prestigious and credible medal on offer in the international extractive industries circle.

NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, in a release today in Abuja stated that the recognition was conveyed to the Group Managing Director of the corporation, Dr. Maikanti Baru, through a letter dated 5 March, 2019 and endorsed by Waziri Adio, Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), on behalf of its parent global body.

According to the document which was also made available to the press, the decision to confer the award on the NNPC was reached at EITI’s Board meeting in Kiev, Ukraine, on 27 February, 2019, having adjudged Nigeria to have attained “Satisfactory Progress in implementing all EITI requirements”.

The report said: “Nigeria is the first Anglophone African country and one of the seven countries within the EITI community to have attained this status so far.’’ The global extractive industries transparency watchdog explained that the laurel was a milestone for Nigeria and a clear recognition and appreciation of the invaluable role of NNPC.

NEITI stated: “We particularly note and commend the increasing collaboration and cooperation from NNPC and its subsidiaries and the new wave of reforms which your organization exemplifies by the monthly disclosure of operational and financial data of the National Oil Company’’.

It pledged to work with the NNPC to ensure that it continues to sustain its leadership as champion of transparency. Commenting on the development, Dr. Baru, said the global recognition was a testament to the far reaching reforms his Management was carrying out in the corporation to inculcate probity and accountability in all tiers of its operational value chain.

He stated that the NNPC would sustain its adherence to transparency and accountability, saying the corporation was committed to full disclosure of its activities.