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Transparency will guarantee Nigeria’s sustainable energy future – NEITI

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*Urges journalists to play their key role to actualize this objective

 

CHIGOZIE  AMADI

Nigeria’s energy future will not be defined by the size of our reserves or production capacity, but by how transparently and prudently we manage our natural resource wealth — the revenues, data, contracts, and decisions that shape our national destiny.

The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji, made this know in his presentation at the 2025 energy conference of the Association of Energy Correspondents of Nigeria (NAEC) held in Lagos.

According to him, the era of secrecy in resource governance is over. The global energy transition towards cleaner fuels, gas optimisation, and renewable energy requires openness, responsibility, and innovation at every stage of the value chain.

He said: “At NEITI, our philosophy is clear and uncompromising: “Data builds trust, and trust drives investment.”

“Transparency is not a bureaucratic exercise — it is an economic imperative. It attracts capital, technology, and partnerships. Our latest NEITI industry reports make this truth evident.

“The NEITI 2021–2022 Oil and Gas Industry Reports revealed that Nigeria earned $23.04 billion in 2021 and $23.05 billion in 2022 from the sector. However, we also identified outstanding remittances of ₦1.5 trillion owed to the Federation by some companies and government agencies — funds that could significantly support energy infrastructure, education, and healthcare if recovered.

“Our findings also exposed the devastating cost of poor accountability. In 2022 alone, Nigeria lost 13.5 million barrels of crude oil valued at $3.3 billion to theft and sabotage. That is revenue that could have financed a full year of the federal health budget or provided energy access to millions of households.

“These losses are not just economic — they represent broken trust, institutional weaknesses, and missed opportunities for national progress. This is precisely why transparency and accountability are not optional. They are existential.”

NEITI’s Strategic Reforms and Systems of Accountability

“Over the past decade, NEITI has evolved from an auditing agency to a governance reform institution. We have:

  • Institutionalised regular audits of oil, gas, and solid minerals sectors, tracking production, payments, and remediation;
  • Developed Nigeria’s Beneficial Ownership Register, unmasking the true owners of over 4,800 extractive assets, and helping government combat corruption and illicit financial flows;
  • Launched the NEITI Data Centre — a national open-data infrastructure that provides real-time public access to industry information;
  • Strengthened partnerships with NUPRC, NMDPRA, and NCDMB to promote transparency in licensing, metering, and host community trust management; and
  • Introduced the Just Energy Transition and Climate Accountability Framework, to ensure that Nigeria’s shift to cleaner energy is transparent, inclusive, and fair.

“These are not ceremonial milestones. They are practical governance instruments designed to make transparency the DNA of Nigeria’s extractive sector.

“Distinguished colleagues in the media, you are not observers in this process — you are critical partners and watchdogs of transparency.

“Your pen, your microphone, your analysis — these are powerful accountability tools that can prevent corruption before it happens.

“You have the unique power to:

  • Use NEITI’s data to hold both government and industry accountable;
  • Investigate how extractive revenues translate into roads, schools, hospitals, and power;
  • Simplify complex audit findings for citizens to understand and engage with;
  • Amplify the voices of host communities and advocate for fairness in energy governance; and
  • Keep transparency and accountability at the centre of national discourse.

“We rely on your vigilance to ensure that the facts in our reports are not buried in archives but converted into public awareness, civic action, and policy reform.

“As a strategic partner, NAEC’s role is indispensable. When journalists report with depth, integrity, and factual accuracy, they become the bridge between data and democracy.

“As Nigeria positions gas as its transition fuel and renewable energy as its future, governance must keep pace with innovation. Our energy future must rest on verifiable data, open contracts, measurable emissions, and accountable institutions.

“NEITI envisions a sector where every dollar is traceable, every contract is public, every decision is transparent, and every Nigerian citizen can see how natural resources translate into national prosperity.

“Distinguished ladies and gentlemen, the path to Nigeria’s sustainable energy future rests on three interlocking values — Transparency, Accountability, and Sustainability.

“At NEITI, we are committed to ensuring that every barrel produced, every cubic foot of gas commercialised, and every kobo earned contributes to 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, empowers citizens, and strengthens democracy.

“Let us, therefore, make transparency our culture, accountability our standard, and sustainability our shared legacy.”