Accountant-General Office To Support NEITI In Tracking Oil And Gas Revenue
Deji Adebayo, Abuja
The Office of the Accountant General of the Federation has on Monday declared the agency’s total support for a sister agency, the Nigeria Extractive Industries Transparency Initiative, (NEITI), in tracking oil and gas revenue that accrue to the Federal Government to ensure appropriate remittances.
The Accountant General of the Federation, Ahmed Idris, fcna, stated this when he received the leadership of the Nigeria Extractive Industries Transparency Initiative (NEITI), led by its Executive Secretary and Chief Executive Officer (CEO), Dr. Orji Ogbonnaya Orji, on a visit to the Treasury house in Abuja.
In a press release signed by Henshaw Ogubike, mnipr, Director (Information, Press and Public Relations) shortly after the meeting reads that Idris, while reacting to NEITI’s request for support to effect requisite reforms in the management of the country’s oil and gas revenues, assured that the Federal Treasury, “will partner and give the necessary support to NEITI to achieve efficient monitoring of oil and gas revenue accruals to the government”.
He commended the Nigeria Extractive Industries Transparency Initiative (NEITI) for the successes it has recorded so far, adding that the effort of the Agency to entrench probity, transparency and accountability in the management of the country’s oil and gas revenues is in line with the government’s financial management reforms initiatives.
The Accountant General also made a case for the integration of NEITI as an institutional partner in the Federal Government’s strategic revenue growth initiative. He reasoned that integrating the Agency into the Federal Government’s strategic revenue growth initiative will be a big leap forward in government’s vision of improving revenue collection, mobilization and identifying additional sources of revenue.
He noted that operating under obsolete laws has greatly hampered the activities of the Agency and called for periodic review of NEITI Act and other laws that regulate the operations of the oil and gas sector to reflect current realities.
In his reaction, the Executive Secretary and Chief Executive Officer (CEO), Dr. Orji Ogbonnaya Orji, said NEITI was established to track revenues accruing to the government from oil and gas transactions, especially remittances of such revenues to ensure accountability.
Dr. Orji commended the Accountant General for the successes recorded so far in government financial management reforms initiatives and solicited support for the Agency’s activities and challenges.