NEITI to Automate Operations from December

The Nigeria Extractive Industries Transparency Initiative (NEITI) is set to digitalise and automate its audit data collection process from December 2021.

According to the agency, The NEITI Audit Management System (NAMS) will ensure real time delivery of information and data by the covered entities involved in the NEITI Audit exercise.

Dr. Ogbonnaya Orji, the Executive Secretary of NEITI, disclosed this at the launch of the global Opening Extractives programme in Abuja. Opening Extractives is a programme that will support Nigeria to implement reforms geared towards the disclosure of the ownership of extractive companies.

The NEITI boss explained that, “The NAMS project will transit NEITI information/data gathering process from analogue to an automated/digital process, improving efficiency in time and resources while reducing human interference and error in the audit process.”

He also stated that the NEITI 2020 reports for the oil, gas and solid minerals have reached the final stages of completion and will be ready for release by the NEITI board before the end of the year.

In addition, Orji said the ongoing Fiscal Allocations and Statutory Disbursement Report that tracks revenues receipts and utilisation in resource-rich states and statutory recipients for the period 2016 -2019 will be released next month.

“Establishing a publicly accessible register of beneficial owners cannot be the end to the campaign against ownership secrecy. Making the registers count through constant interrogation, update and utilisation of data and information contained in these registers to demand accountability are critical to the success of this campaign, ”he emphasised.

The Chairman NEITI Board, Mr Olusegun Adekunle noted that the board was delighted over the value addition that the opening extractives will bring to bear in deepening beneficial ownership disclosures in Nigeria’s extractive sector.