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NEITI wants oil audit proposals effected

11 February 2014, 07:33Augustine Osayande

Abuja - The Nigerian Extractive Industries Transparency Initiative (NEITI) has urged the Federal Government to implement its Oil and Gas Industry Audit report recommendations.

Executive Secretary of the body, Zainab Ahmed, made the call at a Public Enlightenment Workshop on Oil and Gas Industry Audit.

Ahmed attributed the controversy surrounding the $20 billion oil money to the failure of the Federal Government to adhere to NEITI’S earlier recommendations.

She said that the recommendation would have saved government the embarrassment and controversy of the scandal.

“If the recommendations that have been made by NEITI in its previous report were fully implemented, a lot of things would have been resolved now. Now that the citizens are pushing for an immediate answer, we would have had a better stage of account. But now we cannot say whether the money is correct or not until it is fully audited,” she added.

She said the purpose of the workshop was to expose the oil and gas industries and government agencies on what they needed to do to support the audit process.

“This audit template workshop is part of NEITI’S public education and enlightenment specifically targeted at relevant government agencies and companies expected to be covered by the audit exercise. The audit template is a set of questions designed in questionnaire format which NEITI’s team of auditors will expect answers to be provided by entities covered in the audit exercise.”

Ahmed said that the audit would establish the quantities of hydrocarbons produced, exported or imported and how the licensing process and agreements were reached and implemented between government and the companies.

“The exercise will cover key areas such as mapping of hydrocarbon flows, volumetric analysis and technical assessment of hydrocarbon streams and examination of procedural systems,” she said.

- CAJ News

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