sharing in governance of extractive industries

Nigeria publishes 2006-2008 EITI report


NEITI has published the 2006-2008 EITI Reconciliation Report on 1 February. This is the third NEITI Report following the 1999-2004 and 2005 EITI Reports. This report shows that Nigeria received $59billion in 2008, $43billion in 2007 and $45billion in 2006. On average two-thirds of the revenue was from the proceeds of sale of crude oil and gas, whilst the remaining third came mainly from the petroleum profit tax, royalties, signature bonuses, and the education tax. For more information check NEITI website.


Available: http://eiti.org/news-events/nigeria-publishes-2006-2008-eiti-reconc...

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Comment by Ikubaje John Gbodi on February 25, 2011 at 21:28


Publishing extractive revenue as demonstrated in Nigeria and in some other countries thus far reveals that EITI is still a means to an end and not an end in itself.

Nigeria for example has succesfully published three consecutive and robust reports on EITI but the experiences are now revealing to us that following the money and ask questions on how the earned extractive resources were expended is critical to sustanable development and country's economic prosperity. Docuenting how much Nigerian earned from 2004 to date without knowing how the income had been expended does not make any prudent and sensible economic sence.

As I have argued elsewere, the conceptualisation of EITI is strong on revenue transparency but weak in expenditure tracking and accountability. There is therefore an urgent need to complement the EITI initiative, particularly in countries like Nigera with corresponding extractive expendituture accountability programmes.

Again, the questions that some Nigerians that are interested in EITI are now asking is what difference does  extractive revenue revelations makes when there is no multiplying economic effects in their socio-economic well being. Nigerians are saying they cannot see the effects of NEITI on their table(s). Concrete economic evidence(s).

In a nutshell, programmes that promote extractive expenditure transparency are urgently needed to ballance the EITI initiatives globally.


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