Among the challenges besetting Nigeria’s economy, which has been internationally acknowledged is the multifaceted nature of losses that are largely induced by poor records, corruption and tardiness in enforcement of rules. While the Nigeria Extractives Industry Transparency Initiative (NEITI), a national body responsible for ensuring transparency and accountability in the extractive industries geared towards the enhancement of the country’s development has kept the tradition of reporting sectoral issues, timeliness has remained the challenge. The body has done an amazing job of providing the public with data from it’s audit exercise in the oil and gas sector, but when audit reports arrive very late, it adds more challenge to enforcement. For example, the 2016 Audit report for oil and gas sector arrived in December 2018, two years after. But the report, as usual, unearthed worrisome developments, which have been a major part of the country’s growth challenges. But it also […]