Office of the Accountant General of the Federation (OAGF) is to support Nigeria Extractive Industries Transparency Initiative (NEITI) in tracking oil and gas revenue that accrue to the Federal Government to ensure appropriate remittances.
Accountant General of the Federation, Mr Ahmed Idris, stated this when he received NEITI Executive Secretary/Chief Executive Officer (CEO), Dr Orji Ogbonnaya Orji and his team in his office.
Orji, had according to a statement by Director, Information, Press and Public Relations at OAGF, Henshaw Ogubike requested support to effect requisite reforms in the management of the country’s oil and gas revenues.
Idris said his office “will partner and give the necessary support to NEITI to achieve efficient monitoring of oil and gas revenue accruals to the government.”
He commended 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 AGF 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 the government’s vision of improving revenue collection, mobilisation 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 the NEITI Act and other laws that regulate the operations of the oil and gas sector to reflect current realities.
Earlier in his remarks, 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.
He also commended the AGF for the successes so far recorded in the government financial management reforms initiatives and solicited support for the Agency’s activities and challenges.
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