Nigeria Fails to Meet Deadline for Extractive Industries Transparency Initiative
Posted by jinn on 9th March 2010

"A child is silhouetted against a gas flare Nigeria's southwest delta: 80% of the country's oil wealth goes to 1% of its population." Caption: Guardian UK; Photograph: Reuters/Corbis
Today, March 9, marked the deadline for Extractive Industries Transparency Initiative (EITI) Candidate countries to complete “validation” by reporting to the EITI secretariat in Oslo. Nigeria is one of 20 countries that failed to complete validation of its efforts to comply with the EITI. In 2008, a total of 22 EITI Candidate countries were given the March 9, 2010 deadline.
Nigeria was the first country to give domestic legal force to the EITI when it passed national legislation in May 2007. Nigeria became an EITI Candidate country in September 2007 and was given until today to complete validation, a necessary step for progressing from an EITI Candidate country to an EITI Compliant country. Validation provides an independent assessment of progress achieved and identifies measures needed to strengthen the EITI process.
Nigeria submitted a draft validation report but nonetheless failed to meet the deadline. If faced with “exceptional and unforeseeable circumstances,” EITI Candidate countries can request an extension from the EITI Board, which will meet in mid-April to consider these requests.
If a Candidate country does complete validation (or request an extension) by March 9, 2010, it will be delisted.
Tags: corporate accountability, oil extraction
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