ANALYSIS OF NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (NEITI) AUDIT OF THE PERIOD 2006-2008: A CIVIL SOCIETY PERSPECTIVE ISBN: 978-978-50222-4-7 2012
This analysis provides a concise, though critical, overview of the 2006-2008 NEITI audit, while pushing the bar on expectations, transparency and accountability in oil revenue management and promotion of good governance.
For the purpose of easy understanding the analysis is divided into seven sections. Section One introduces the Nigeria oil and gas industry and the combustible mix of the good and bad even leaning more to the negative it represents for the country and its citizens, while Section Two draws attention to procedures of the NEITI Audit. The third section highlights the Financial Audit which focuses attention on assessment and reconciliation of financial flows within certain identified structures of Nigeria’s oil and gas industry, while Section Four dwells on physical and process audit. Section Five examines matters arising from the Audit particularly the not-too-Pleasant aspects on which stakeholders should seek remediation, while Section Six takes a look as the desirability of Civil Society engagement with the NEITI process and the key issues to collaboration. The last, Section Seven, concludes the review based on revelations contained in the 2006-2008 NEITI audit and highlights better ways civil society can best latched on the opportunity provided by the findings of the report to give the ‘big push’ that is required for transparency and accountability which in conjunction with the rule of law, access to quality information and freedom of expression, represent the cornerstone for realizing good governance and deepening the democratization process in Nigeria. It is only by so doing that the civil society can be said to have positively exploited the opportunity available to it as an important leg of the tripod, the other being government and extractive companies that drive the EITI process, be it at the global or national level.
To the above extent, the analysis affirms that Civil Society Legislative Advocacy Center (CISLAC) has through its works and engagement demonstrated that Civil Society Organization scan carve a niche for themselves in the NIETI process. The work for civil society will be more meaningful if the Nigerian state embraces the policy of decentralization of economic resources to states or sub-national level governments in a manner that will also put the latter to deliver on transparency and accountability in resource management.
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