Nigeria dangers suspension from EITI over late launch of report
THE nation risks suspension from the Extractive Industries Transparency Initiative (EITI) following the failure http://satisfyingradio83.hazblog.com/Primer-blog-b1/The-man-who-wants-to-make-Hollywood-move-to-Nigeria-b1-p6.htm of Nigerian Extractive Industries Transparency Initiative (NEITI), to release its 2013 petroleum and gasoline audit report.
The dissolution of the NEITI board of the Federal Government delayed the release of the report, which has been prepared since December 31, 2015. Prior to the report is made public, the board must grant its approval.
The new EITI board headed by Fredrik Reinfeldt would be taking over the business from Clare Short, that has competed her two-year tenure.
The EITI international board is scheduled to meet in Lima, Peru on February 22 where Nigeria's suspension may be pronounced.
EITI said after neglecting to release the reports Nigeria was in breach of its rules and standards.
EITI's Deputy Head and Regional Director for Africa and the Middle East, Eddie Rich, said though the reasons advanced for missing the deadline were clearly understandable, determination on the problem will be guided by the EITI rules.
Rich, who spoke at a meeting with the media and civil societies during the visit of new EITI Chair, Fredrik Reinfeldt, to NEITI, said Nigeria still has enough time from now till the EITI meeting in Lima, Peru, to publish the reports.
He explained: «We possess a standard with requirements and rules and that's the currency, that's the power, that is the reason why you value the EITI standard, that is why other states value it. So getting this rare balance between a real politics issue that is very understandable, you have here in Nigeria as well as the requirement for the straight interpretation of the requirements, that is the balance they playing with it at the moment.
I can not say with any assurance, which way that's going to go. According to Rich, „I need to inform you there wiki.kineticsfoundation.org is an important possibility of Nigeria's suspension and I'm sorry to need to mention that. That's not impossible, naturally. Regardless of the ultimate decision, we shall do our best to make sure the board chooses that conclusion in an educated way, with accurate understanding of what the problems are in Nigeria.“
Rich farther explained when Nigeria is suspended, the country gets the opportunity of obtaining the suspension mechanically lifted in the event the audit reports are printed within another six months, adding that failure to publish it inside the six months timeframe will justify the publication of the 2014 report prior to the suspension would be lifted.
The dissolution of the NEITI board of the Federal Government delayed the release of the report, which has been prepared since December 31, 2015. Prior to the report is made public, the board must grant its approval.The new EITI board headed by Fredrik Reinfeldt would be taking over the business from Clare Short, that has competed her two-year tenure.
The EITI international board is scheduled to meet in Lima, Peru on February 22 where Nigeria's suspension may be pronounced.
EITI said after neglecting to release the reports Nigeria was in breach of its rules and standards.
EITI's Deputy Head and Regional Director for Africa and the Middle East, Eddie Rich, said though the reasons advanced for missing the deadline were clearly understandable, determination on the problem will be guided by the EITI rules.
Rich, who spoke at a meeting with the media and civil societies during the visit of new EITI Chair, Fredrik Reinfeldt, to NEITI, said Nigeria still has enough time from now till the EITI meeting in Lima, Peru, to publish the reports.
He explained: «We possess a standard with requirements and rules and that's the currency, that's the power, that is the reason why you value the EITI standard, that is why other states value it. So getting this rare balance between a real politics issue that is very understandable, you have here in Nigeria as well as the requirement for the straight interpretation of the requirements, that is the balance they playing with it at the moment.
I can not say with any assurance, which way that's going to go. According to Rich, „I need to inform you there wiki.kineticsfoundation.org is an important possibility of Nigeria's suspension and I'm sorry to need to mention that. That's not impossible, naturally. Regardless of the ultimate decision, we shall do our best to make sure the board chooses that conclusion in an educated way, with accurate understanding of what the problems are in Nigeria.“
Rich farther explained when Nigeria is suspended, the country gets the opportunity of obtaining the suspension mechanically lifted in the event the audit reports are printed within another six months, adding that failure to publish it inside the six months timeframe will justify the publication of the 2014 report prior to the suspension would be lifted.
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