The Nigerian National Petroleum Company (NNPC) Limited and the Extractive Industries Transparency Initiative (EITI) have pledged to deepen their cooperation towards deeper disclosures, transparent reporting, and compliance with global EITI standards.
The pledge came on the heels of a visit by the EITI Africa Country Director, Gilbert Makore, to the NNPC Towers recently. The visit forms part of the ongoing validation of Nigeria against the 2023 EITI Standard.
Makore particularly commended NNPC Limited’s measurable progress on outstanding validation requirements and with disclosures that now track EITI expectations more closely.
Group CEO of NNPC Limited, Engr. Bashir Bayo Ojulari, who described the EITI as a useful platform for attracting investment and building stakeholder confidence, said it allows the company to show its governance and transparency records.
Makore was accompanied on the visit by the EITI Validation Lead, Riley Zecca; the Nigeria Extractive Industries Transparency Initiative (NEITI) Director, Policy, Planning and Strategy, Dieter Bassi; Director, Technical, Sa’ad Balarabe; and Director, Communications and Stakeholder Management, Obiageli Onuorah.
Technical sessions with the NNPC’s Governance, Risk, and Compliance (GRC) Division were held to review the work done to close identified validation gaps.