The Nigerian National Petroleum Corporation has assured the Nigerian Extractive Industry Transparency Initiative that it will collaborate in efforts to consolidate transparency initiatives in the nation’s oil industry.
The assurance was contained in a statement issued in Abuja by Ohi Alegbe, the Group General Manager, Group Public Affairs Department of the NNPC.
The statement quoted the Group Managing Director of the NNPC, Dr. Joseph Dawha, as giving the assurance when he met with a delegation of NEITI and International Extractive Industry Transparency Initiative in Abuja.
“As for us in NNPC, we have enjoyed an unprecedented co-operation and collaboration with NEITI in their transparency drive in the oil and gas industry,” Dawha said.
He also assured NEITI that the collaboration would further assist in addressing issues that hitherto existed in terms of the negative public perception of the industry.
Dawha had earlier told the NEITI delegation that the change in global oil demand and supply had resulted in a fall in crude oil prices to levels last seen during the peak of the 2008 financial crisis.
He said austerity measures and other plans had been put in place by the Federal Government to address the new reality and cushion the effects on the nation’s economy.
“Some of these plans include the diversification of government revenue sources, gas expansion investment programmes and increase in domestic utilisation of Nigeria’s crude,” he said.
Dawha expressed optimism that the recent peaceful political transition in the country will bring about a new era for the Nigerian economy.
The statement said the Chairman of the NEITI Board, Ledum Mitee, at the event expressed gratitude to the NNPC management for its cooperation over the years.
Mitee said the expected passage of the Petroleum Industry Bill would open a new chapter in the nation’s oil and gas industry.
The officials on the delegation included the Executive Secretary of NEITI, Zainab S. Ahmed, and other board members of the EITI.