Transparency and Accountability: NNPC partners EITI

The Nigerian National Petroleum Corporation (NNPC) has been accepted as a Partner company with The Extractive Industries Transparency Initiative (EITI). EITI is a global standard for the good governance of oil, gas, and mineral resources. It seeks to address the key governance issues in the extractive sectors. Nigeria will be joining a group of over 65 extractives companies, state-owned enterprises (SOEs), commodity traders, financial institutions, and industry partners who commit to observing the EITI’s supporting company expectations.

Speaking on the development, the Group Managing Director of NNPC, Mele Kyari, said: “Becoming an EITI supporting company aligns with NNPC’s corporate vision and principles of transparency, accountability, and performance excellence. Our partnership with NEITI and EITI strengthens our commitment towards commodity trading transparency, contract transparency, and systematic disclosure of revenues and payments. We are on a journey towards greater transparency and look forward to deepening our collaboration with the EITI to further this work.”

In a recent tweet, Kyari also said: “Today EITI International has announced the acceptance of NNPC as a partner company. This translates to a requirement for greater transparency and accountability from the Corporation. Our commitment aligns with the persuasions of our Government to be accountable to the polulace.”