The executive secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Orji Ogbonnaya Orji, has declared that secrecy in Nigeria’s resource governance is over.
He made the declaration on Thursday while speaking at the Association of Energy Correspondents of Nigeria (NAEC) annual conference held in Lagos.
Mr Orji said the global shift toward cleaner energy through gas optimisation and renewables requires transparency, accountability, and innovation across every stage of the energy value chain.
“The path to Nigeria’s sustainable energy future rests on three interdependent values: transparency, accountability, and sustainability,” he stated.
He reaffirmed NEITI’s commitment to ensuring that every barrel of oil, every cubic foot of gas, and every kobo earned supports national development in full public view.
“Together with the media, civil society, and responsible industry players, we can build an energy sector that powers industries and empowers citizens.
“Let us make transparency our culture, accountability our standard, and sustainability our shared legacy,” Mr Orji said.
Describing transparency as more than a bureaucratic formality, Mr Orji called it an economic necessity that attracts investment, technology, and global partnerships.
“Our latest NEITI industry reports make this truth evident,” he noted.
According to NEITI’s 2021–2022 Oil and Gas Industry Reports, Nigeria earned $23.04 billion in 2021 and $23.05 billion in 2022 from the sector.
However, the reports also uncovered ₦1.5 trillion in outstanding remittances owed to the federation by some companies and government agencies.
He said these funds, if recovered, could strengthen energy infrastructure, healthcare, and education across the country.
“In 2022 alone, Nigeria lost 13.5 million barrels of crude oil worth $3.3 billion to theft and sabotage.
“That amount could have funded a full year of the federal health budget or provided energy access to millions of households.
“These losses represent not just economic setbacks but broken trust and missed opportunities for development. This is why transparency and accountability are not optional—they are essential,” he said.
Mr Orji highlighted NEITI’s transformation from a compliance-based audit body to a full-fledged governance reform institution over the past decade.
He cited key achievements, including regular audits in the oil, gas, and solid minerals sectors to track production, payments, and remediation.
One of NEITI’s milestones, he said, is the creation of Nigeria’s Beneficial Ownership Register, exposing the real owners of over 4,800 extractive assets.
He noted that the register has helped curb corruption and illicit financial flows within the sector.
“We rely on your vigilance to ensure our reports translate into public awareness and policy reform.
“As a strategic partner, NAEC’s role is indispensable. Journalists serve as the vital bridge between data and democracy,” Mr Orji said.
As Nigeria positions gas as its transitional energy source and looks toward renewables, Mr Orji said governance must evolve with innovation.
“Our energy future must be grounded in verifiable data, transparent contracts, measurable emissions, and accountable institutions,” he stated.
He envisaged a sector where every dollar is traceable, every contract is open, and every decision is transparent for shared national prosperity.
(NAN)
