Daily Trust

Ma­jor­ity of 72 oil firms com­plied with 2019 au­dit – NEITI

- By Zakariyya Adaramola Business · Energy · Industries · Nigeria · Abuja

The Nige­ria Ex­trac­tive In­dus­tries Trans­parency Ini­tia­tive (NEITI) said ma­jor­ity of the 72 oil com­pa­nies and gov­ern­ment agen­cies im­proved their com­pli­ance dur­ing its 2019 oil and gas in­dus­try au­dit ex­er­cise.

The Ex­ec­u­tive Sec­re­tary of NEITI, Waziri Adio, com­mended them while re­leas­ing the as­sess­ment re­port in Abuja, yes­ter­day.

In a state­ment, Adio said: “The data sub­mis­sion com­pli­ance rate for the 2019 oil and gas au­dit is very im­pres­sive.

“It is re­mark­able not just be­cause of the mas­sive im­prove­ment across the board but also be­cause this im­proved com­pli­ance hap­pened with all the re­stric­tions im­posed by COVID19.

“This un­der­scores the strong com­mit­ment of the af­fected com­pa­nies and the gov­ern­ment agen­cies. We com­mend them and urge them to keep it up.”

High­lights of the com­pli­ance re­port showed that 49 en­ti­ties, rep­re­sent­ing 68 per cent of the 72 en­ti­ties cov­ered, scored 100%. While one agency scored 95 per cent, another scored 93%, four en­ti­ties scored 88%, while two en­ti­ties scored 75%, and two oth­ers also scored 50%.

How­ever, three en­ti­ties scored 0%, in­di­cat­ing non-com­pli­ance with the data col­lec­tion process for the au­dit.

Fur­ther anal­y­sis showed that out of the 72 en­ti­ties cov­ered, 58 (81%) of them scored between 75% and above, while 66 (92%) of the en­ti­ties scored between 50% and above.

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