NNPC, EITI Strengthen Cooperation on Transparency, Global Standards

The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Extractive Industries Transparency Initiative (EITI) have pledged to deepen cooperation on disclosures, transparent reporting and compliance with global EITI standards.

The pledge followed a recent visit by EITI Africa Country Director, Gilbert Makore, to the NNPC Towers as part of the ongoing validation of Nigeria against the 2023 EITI Standard.

Makore commended NNPC Ltd. for its measurable progress in meeting outstanding validation requirements and improving disclosures to align more closely with EITI expectations.

Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, described the EITI as “a useful platform for attracting investment and building stakeholder confidence.”

Ojulari said the platform also allows NNPC to demonstrate its governance and transparency records, reinforcing the company’s commitment to greater openness and accountability.

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During the visit, Makore was accompanied by EITI Validation Lead, Riley Zecca; Nigeria Extractive Industries Transparency Initiative (NEITI) Director, Policy, Planning and Strategy, Dieter Bassi; Director, Technical, Saad Balarabe; and Director, Communications and Stakeholder Management, Obiageli Onuorah.

The delegation held technical sessions with NNPC’s Governance, Risk and Compliance (GRC) Division to review progress made in addressing identified validation gaps.

The engagements focused on assessing the company’s work towards meeting the requirements of the 2023 EITI Standard and strengthening the quality and scope of disclosures.

NNPC and EITI reaffirmed their commitment to deeper disclosures, transparent reporting and continued compliance with global EITI standards.