The global Extractive Industries Transparency Initiatives (EITI) on Monday commended the improvement in transparency and accountability by the Nigerian National Petroleum Corporation (NNPC), pledging to support the corporation in the aspect of the oil firm’s financial reports.
EITI, a multi-stakeholder coalition that promotes extractives transparency and accountability in over 50 countries said it would support NNPC in tailoring the oil firm’s monthly financial and operations reports and financial statements to be in line with the EITI Standard and Expectations for EITI supporting companies.
This was disclosed on Monday by NNPC spokesperson Kennie Obateru, in a statement issued in Abuja, saying the EITI made the promise in a letter to the corporation.
The EITI in the letter also highlighted the opportunity for NNPC to champion discussions on upstream contract disclosure in Nigeria.
The global agency lauded Mele Kyari, NNPC’ s Group Managing Director, for deepening transparency and accountability in the corporation.
The statement quoted EITI’s Executive Director, Mark Robinson, as saying, “The NNPC has set a good example and could lead in championing transparency for other NOCs (National Oil Companies) in Africa.”
The Transparency group invited Kyari to speak at its virtual workshop holding next month on the topic ‘Learning from mainstreaming disclosure efforts’.
The workshop will explore opportunities for making the systematic disclosure of extractive data the norm.