Nigeria’s minister of mines and steel development, Kayode Fayemi, has called on all African countries implementing the Extractive Industries Transparency Initiative (EITI) have to device home-grown strategies to tackle transparency and accountability issues, while bearing in mind the unique and peculiar nature of the region.
Fayemi made the call when he received a delegation from the Malawi Extractive Industries Transparency Initiative (MWEITI) that came to understudy Nigeria’s implementation of the EITI, according to a statement released Wednesday by Orji Ogbonnaya Orji, director communications of the Nigeria Extractive Industry Transparency Initiative (NEITI).
The Malawian delegation visited the minister in his capacity as chairman of the NEITI National Stakeholders’ Working Group, which is NEITI’s board.
Fayemi advised African countries to bring their traditional notions of accountability and values to interrogate existing institutional mechanisms and frameworks, while entrenching the values that will stand the test of time and ultimately influence global initiatives like the EITI and make the initiative attractive for their citizens.
According to the minister, “one value we can add is to make the EITI relevant to our people and the government. We joined the initiative voluntarily, and we need to have our own clarity of thoughts as to what we will like to see, as annual audits are fine by themselves, but we need to make the issue of transparency tangible for those who are ultimately the victims of lack of transparency especially in the extractive industries.”
He also advised African countries implementing the EITI to use the initiative to help their respective governments by proposing alternatives and options that support reforms in their extractive industries,” adding further that “Africa needs to deepen the engagements, institutionalise and internalise the EITI”.
In his remarks, Waziri Adio, who is the executive secretary of NEITI, advised the team on the need for Malawi to put in place a legal and regulatory framework in order to sustain and safeguard the implementation of EITI and ensure that Malawians derive maximum benefit from their God given wealth.
At the Revenue Mobilisation Allocation and Fiscal Commission (RMFAC), the Malawian delegation was received by Shettima Abba Gana, acting chairman of the commission.
He noted the positive role that NEITI is playing in the on-going reform agenda of the government and advised the Malawian delegation to carefully take note of the unique strategies and policies that the agency has adopted towards achieving its objectives.
The delegation also visited Zainab Ahmed, the minister of state for budget and national planning and immediate past executive secretary of NEITI.
They were also at the Mining Cadastral Office and the Economic and Financial Crimes Commission (EFCC), where they held series of meetings with the officials.
Leader of the Malawian Delegation to Nigeria, Crispin Kulemeka, said they were in Nigeria to learn how the country recorded its successes and milestones in implementing the EITI.
Kulemeka said Nigeria is rated highly at the global EITI, adding that the lessons they are taking away will help strengthen Malawi’s EITI implementation and preparation towards releasing its first report in April 2017.
Fayemi calls for home grown strategies in Africa’s natural resource governance
Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more
