The Netherlands, Wednesday, became the 51st Extractive Industries Transparency Initiative (EITI) implementing country.
This followed the EITI’s Board approval of The Netherlands application to join the Initiative as an implementing country, at its 40th Board meeting presently holding in Berlin.
Albania, Cameroon, Colombia, Dominican Republic, Ethiopia, Germany, Ghana, Indonesia, Netherlands, Nigeria, Norway, Philippines, Senegal, Ukraine and.United Kingdom are some of EITI implementing countries.
The United States which was admitted as an EITI candidate country in 2014 withdrew it’s membership in November 2017.
Meanwhile, during a session on contract transparency Wednesday, members had experience shared by countries like Mexico with a comprehensive online portal where you can access all their contracts, timeliness for implementation, budget and other important information on any particular contract.
“Most IOCs had also made strong statements to support any country trying to follow this route,” said Nigeria’s representative on the EITI Board, Faith Nwadishi.
“Henceforth most companies would include during negotiations with countries… Fingers crossed maybe Nigeria can tow this line considering our OGP commitment,” Nwadishi added.
The EITI is the global standard to promote the open and accountable management of oil, gas and mineral resources.
The Standard seeks to address the key governance issues of the oil, gas and mining sectors.