Abstract:
The Nigerian Extractive Industries Transparency Initiative (NEITI) is a subset of the global Extractive
Industries Transparency Initiative (EITI), and for some reasons NEITI has been regarded by
many actors and observers as the global EITI flagship programme or one of the foremost national
chapters of EITI , along with Azerbaijan.
When one considers the guiding principles and beliefs of EITI that wealth from a country?s natural
resources should benefit it citizens, and this requires high standard of transparency and
accountability. When one further consider that EITI growing status as a platform for progress, that is
bringing greater transparency and accountability to all aspects of natural resources management
including tax transparency, commodity trading and licensing, one would expect ground breaking
disclosure which is required on beneficial ownership to ensure that the identity of proprietors of oil,
gas and mining companies operating in EITI countries are made public. As such to a greater extent
the measurement of the success of (NEITI) will be subjected to evaluation against the principles of
EITI.
