Expdonaloaded News; EITI decries corruption in oil, gas sector

The Extractive Indus­tries Transparency Initiative (EITI) has expressed its discom­fort over the level of corrup­tion in the oil and gas sector, describing it “as serial cor­rupt practices in Nigeria’s oil and gas sector”.

It has therefore called on the Federal Government to commence immediate implementation of reforms in the sector so as to block the leakages.
The Chairperson, Mrs. Claire Short, made the call when she spoke with State House correspondents shortly after a closed-door meeting her delegation had with Vice President Yemi Osinbajo (SAN) at the Defence House, Maitama, Abuja.
She expressed optimism that the present administration would take the necessary step to sanitise the sector. Short, who was accompanied by officials of the Nigeria Extractive Industries Transparency Initiative (NEITI), regretted that the government had so far failed to implement some of the reforms recommended for the sector.post by expdonaloaded.blogspot.com..“The Federal Government should as a matter of urgency commence the implementation of the suggestions proffered in the various audit reports of operations in the sector by the Nigeria Extractive Industries Transparency Initiative,” she said.
Short said the purpose of her visit to the country was to further push for the reforms, particularly now that Nigeria has a new government.She noted that her visit was also meant to collaborate with the government to ensure transparency within the extractive sector.
Chairman of the NEITI, Chief Mitee Ledun, regretted that the nation had lost several billions of naira over the years. He attributed the loss to lack of political will to implement findings and recommendations of its audit reports.
He said the reports exposed several cases of mismanagement, under-payment of taxes and royalties, under-assessment of operational processes as well as other lapses.
“The advocated reforms, if implemented, will help remedy the sector and make needed contribution to national development,” Ledun noted.

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