By Editor
Nigeria is sharpening its transparency playbook in the extractive sector, not merely to meet global disclosure benchmarks but to unlock revenue, strengthen governance and restore public trust at a time of sweeping economic reforms.
That message took centre stage in Abuja as the Secretary to the Government of the Federation and Chairman of the NEITI National Stakeholders Working Group (NSWG), Senator George Akume, opened a high-level advocacy dialogue for stakeholders ahead of Nigeria’s 2026 Extractive Industries Transparency Initiative (EITI) Validation.
Addressing civil society leaders, development partners, industry players and government officials, Akume framed transparency as a strategic economic lever rather than a compliance exercise. With Nigeria grappling with fiscal pressures, revenue shortfalls and rising public expectations, he said the extractive sector—long the backbone of government earnings—must be governed with greater openness, efficiency and accountability to realise its full value.
“The extractive sector remains central to Nigeria’s economic stability, revenue mobilisation and long-term development aspirations,” Akume noted, while acknowledging that governance gaps and inefficiencies have historically limited its impact.
A key highlight of the dialogue was the formal introduction of the new Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Musa Sarkin Adar. Akume congratulated him on his appointment and expressed confidence in his ability to steer NEITI at a critical juncture, as transparency reforms increasingly intersect with broader fiscal and economic restructuring.
Significantly, Akume revealed that NEITI’s reports—once viewed largely as diagnostic documents—are now actively shaping policy and reform in Nigeria’s oil, gas and mining sectors. According to him, findings and recommendations from NEITI audits have become essential tools in driving ongoing sector reforms, marking a shift from transparency for transparency’s sake to transparency as a catalyst for change.
The dialogue also spotlighted the rising importance of the 2023 EITI Standard, which places greater emphasis on outcomes rather than disclosures alone. For Nigeria, this means deploying transparency data to plug revenue leakages, improve sector oversight, strengthen institutions and ensure that natural resource wealth translates into tangible benefits for citizens.
“As a country, we must go beyond compliance. EITI should serve as a reform instrument that supports domestic revenue mobilisation, prudent fiscal management and inclusive governance”, Akume said.
Discussions at the forum centred on Nigeria’s recent EITI Assessment, the upcoming Validation process and the unveiling of a policy brief titled “Beyond Assent: Pathways for Implementing Nigeria’s New Tax and Revenue Framework.” The brief, Akume explained, aligns extractive sector governance with the government’s wider economic reform agenda and provides practical pathways for improving tax administration and revenue capture.
Underlying the entire conversation was NEITI’s multi-stakeholder model, which Akume described as the initiative’s greatest strength. He stressed that transparency cannot be delivered by government alone, underscoring the critical roles of civil society, the private sector, sub-national actors, the media and development partners.
“This is why dialogues like this matter. They create space for honest reflection, constructive engagement and shared ownership of reforms”, he said.
As Nigeria prepares for its 2026 EITI Validation, the Abuja dialogue signalled a clear shift in tone and intent: transparency is no longer just a governance ideal, but a business-critical and reform-driven strategy for stabilising revenues, strengthening investor confidence and securing long-term economic resilience.
