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Economy diversification set for centre stage in Abuja

17 November 2015, 17:12

Abuja - A local business and ethical networking platform and consultancy firm announced plans to host government and other stakeholders to explore ways to unlock some $100 billion potential in the extractive industries.

CSR-in-Action, the consultancy company,believes this potential can be unlocked within the next four years.

As part of the plans, the firm is hosting the fourth Sustainability in the Extractive Industries (SITEI), a free annual conference scheduled to take place in Abuja on Thursday.

It is organized in partnership with the Nigerian Extractive Industries Transparency Initiative (NEITI), the Nigerian Government Chapter of the global Extractive Industries Transparency Initiative (EITI).

Also read: World Bank raises alarm over Nigeria’s economy

Bekeme Masade, Executive Director, CSR-in-Action said with the theme, Unlocking the Hidden Potential in the Extractive Industries, they had aligned this year’s conference with the present Nigerian Government’s pledge to diversify the economy, particularly through mining.

“SITEI seeks to renew this political commitment to sustainable development while discussing structural modifications within political institutions in relation to development, investment and local participation in the Nigerian extractive industries,” said Masade.

Some of the expected speakers at the 400 delegate-strong conference include Prof Yemi Osinbajo (Vice President, Federal Republic of Nigeria); Nasir el-Rufai (Executive Governor, Kaduna State), Mutiu Sunmonu (Immediate Past Country Chair, Shell Companies in Nigeria); Neff Clay (CEO, Chevron) and Igo Weli, (General manager, Sutaibaility Development, Shell) amongst others.

National Chairman of the Organising Committee, SITEI 2015, Meka Olowola, said they were mindful of the possible degrading effects that extracting value from mineral resources often had on the environment and society.

Organisers, therefore, designed the programme to include capacity building sessions focused on Strategic Environmental Assessments and Environmental Impact Assessment procedures.

“In line with global sustainable development, we also have a workshop on Financing Options for Green Energy in Nigeria in conjunction with the German government aimed at cleaner energy production for the long term,” said Olowola.

- CAJ News

Tags abuja economy

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