FG to build better systems for better extractive industry

The Federal Government has pledged to build better systems and procedure that would strengthen the capacity of relevant government agencies and halt mismanagement, inefficiency and lack of transparency in the extractive sector.
President Goodluck Ebele Jonathan, who stated this Monday at opening of the Board retreat for members of the National Stakeholders Working Group of the Nigerian Extractive Industries Transparency Initiative, held at the Le’ Meridien Hotel and Golf Resort, Nwaniba, Akwa Ibom State, noted that his administration was ready to actualise transparent extractive sector, where the revenues are accounted for and used for the benefit of Nigerians.
Jonathan, who was represented by the Akwa Ibom State Governor, Chief Godswill O. Akpabio, hinted that in the weeks ahead, he would strengthen the Inter-Ministerial Task Team by re-inaugurating it with senior government officials identified as a key to the reforms of the extractive sector in the country to implement the remedial issues arising from the NEITI audit findings.
Jonathan lauded the theme of the retreat, “From Transparency to Accountability”, refocusing the NEITI to move from its present position of enthroning transparency to recording measurable and visible impacts in the lives of Nigerians, adding: “I consider this theme very fundamental in the view of the importance of our natural resources to the economic and social well-being of Nigerians.
“In the days ahead, you would be brainstorming on how to make Nigeria’s natural resources work for the people. It is my hope that you would arise from this retreat better informed about focusing on the daunting task of contributing to the much needed reforms in our extractive sector. I urge you to initiate the process of extending the initiative to the states and local government councils to ensure a holistic reform of the sector.”
He, therefore, called on stakeholders in the extractive sector, especially companies and government agencies, to cooperate with NEITI in the conduct of its audits as well as Nigerians and the international community to support the Federal Government to the pursue reforms to a logical conclusion.