NEITI Sets up Committee on Public Disclosure of the Contents of Oil,Gas

The Nigeria Extractive Industries Transparency Initiative, NEITI, has set up a Joint Inter-Agency Committee on public disclosure of the contents of oil, gas and mining contracts with exploration companies.

This was disclosed by the Executive Secretary of NEITI Orji Ogbonnaya Orji, at the National Stakeholders Working Group meeting in Abuja.

Orji revealed that the committee’s responsibility is to manage Nigeria’s interests in various funding arrangements in the oil, gas and mining sectors as governed by contractual obligations.

According to him, the committee is expected to demand disclosure on terms and conditions of contracts awarded for the exploration and exploitation of Nigeria’s oil and gas assets by investors.