NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (NEITI) ACT, 2007
Act · Governance
Policy date: 2011-01-01
An Act establishes the Nigeria Extractive Industries Transparency Initiative as a statutory body that audits and publicly discloses revenues from oil, gas, and mining sectors. It targets companies in these industries and government agencies handling such revenues. This promotes transparency and accountability in resource management.
NIGERIA EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (NEITI) ACT, 2007
What Is This Policy?
An Act that establishes NEITI as the statutory body implementing the Extractive Industries Transparency Initiative (EITI) in Nigeria, requiring the auditing and public disclosure of revenue flows from the oil, gas, and mining sectors.
Who Does It Target?
Oil and gas exploration and production companies Mining companies NNPC and its subsidiaries Federal Government agencies receiving resource revenues
What Does It Aim to Achieve?
Ensure transparency and accountability in the management of Nigeria's natural resource revenues by requiring independent audits and public disclosure of all payments and receipts in the extractive sector.
Key Features
Independent Audits: NEITI commissions annual independent audits of all financial flows between extractive companies and government. Publication: Audit reports are published publicly, enabling citizens to verify that companies paid what government received. Reconciliation: Discrepancies between company payments and government receipts are identified and explained. Civil Society: The National Stakeholders Working Group includes civil society representatives ensuring independent oversight.
Current Status
Rollout Stage: Active - Nigeria has been EITI-compliant since 2011 Coverage: Oil, gas, and solid minerals sectors Beneficiaries: Nigerian public; civil society; government accountability Funding: Federal Government; EITI donor support
How to Access
NEITI audit reports are publicly available at https://www.neiti.gov.ng Civil society organisations may apply to join the National Stakeholders Working Group Extractive companies must submit payment records to NEITI's independent auditor Application method: Access reports at https://www.neiti.gov.ng. NSG membership: engage NEITI Secretariat.
Important Terms
Failure to disclose payment information to NEITI is a violation of the NEITI Act NEITI findings are referred to relevant agencies for investigation where discrepancies are identified Nigeria's EITI compliance status is reviewed by the international EITI Board
Impact & Metrics
Annual publication of audit reports revealing multi-billion dollar discrepancies between oil revenues recorded by NNPC and amounts received by the Federation Account.
Official Resources
Website: https://www.neiti.gov.ng Contact: Nigeria Extractive Industries Transparency Initiative (NEITI)
Legal Framework
The Nigeria Extractive Industries Transparency Initiative (NEITI) Act 2007 establishes NEITI as the statutory body implementing EITI standards in Nigeria. It derives constitutional authority from the 1999 Constitution and operates alongside the Petroleum Industry Act 2021, the Nigerian Minerals and Mining Act 2007, the Fiscal Responsibility Act 2007, and the Freedom of Information Act 2011. Nigeria's obligations under the international EITI Standard (2019 and 2023 updates) provide the primary accountability framework.