FG Urges Stakeholders to Use EITI Validation to Deepen Transparency in Oil, Mining Sectors

The Federal Government has urged stakeholders in Nigeria’s extractive industry to use the 2026 Extractive Industries Transparency Initiative Validation Exercise as a platform to strengthen transparency, accountability and governance reforms in the oil, gas and mining sectors.

The government said the validation process should go beyond meeting compliance requirements by promoting institutional reforms that would improve public confidence, attract investment and ensure the sustainable management of the nation’s natural resources.

Secretary to the Government of the Federation and Chairman of the National Stakeholders’ Working Group, Senator George Akume, made the call 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,” forms part of Nigeria’s preparations for the 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, Akume described the exercise 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 advancing transparency and accountability in Nigeria’s extractive sector.

Akume praised NEITI for completing its submission to the EITI International Secretariat and for engaging stakeholders ahead of the visit of the EITI International Validation Team, describing the efforts as evidence of Nigeria’s commitment to a credible and inclusive validation process.

The SGF stressed that the success of EITI implementation should be measured by its impact on governance rather than the number of reports produced.

According to him, transparency should strengthen public institutions, enhance investor confidence, restore trust in resource management and contribute to national development.

He 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.

Akume said these priorities align with President Bola Tinubu’s Renewed Hope Agenda and reaffirmed the administration’s commitment to implementing reforms that improve governance in the extractive industry.

He urged participants at the retreat to review achievements, strengthen collaboration, address outstanding corrective actions and develop practical strategies that would ensure a successful validation exercise while driving long-term reforms across Nigeria’s extractive sector.