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EITI Appraises Nigeria’s Oil, Gas Industry Reforms

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The Global Extractive Industries Transparency Initiative (EITI) team is in Nigeria to assess the impact, transparency and accountability in the oil, gas and mining sectors.

The validation mission, effective Monday, is part of the 2026 EITI’s Validation Exercise that commenced on July 1.

The exercise is particularly significant for Nigeria, as it provides an opportunity for the country to demonstrate how far it has implemented the corrective actions identified during its previous assessment and strengthened the governance of its natural resources.

The Nigeria EITI, in a statement issued on Sunday under the signature of its Director of Communications and Stakeholders Management, Obia­geli Onuorah, said the arrival of the global assessors marked a major stage in the ongoing validation process.

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The mission is expected to run from August 10 to August 14, during which the assessors will conduct a comprehensive quality assurance assessment and consult a wide range of stakeholders involved in Nigeria’s extractive industries.

The statement read, “The Nigeria Extractive Industries Transparency Initiative announces the arrival of the Global Extractive Industries Transparency Initiative Validation Assessors as part of the ongoing 2026 EITI Validation Exercise which commenced on July 1st 2026. The presence of the EITI Mission in Nigeria marks a significant stage in Nigeria’s 2026 EITI Validation and forms part of the global EITI Validation process.

“During the mission, which commences August 10th 2026, the Validation Assessors will undertake a comprehensive quality assurance assessment and hold consultations with key stakeholders”

The stakeholders include government institutions, the National Assembly, oil, gas and mining companies, civil society organisations, development partners, anti-corruption agencies, host communities and the media.

The assessors will also meet senior government officials and key institutions involved in the management and oversight of Nigeria’s extractive resources.

Among those expected to meet the mission are the Secretary to the Government of the Federation and Chairman of the NEITI Board, Senator George Akume; members of the NEITI National Stakeholders Working Group; the Ministers of Finance and Budget and Economic Planning; the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited; NEITI’s Inter-Ministerial Task Team; members of the Senate Committee on Public Accounts and other relevant committees of the National Assembly, as well as the Ministry of Industry, Trade and Investment.

The consultations are expected to give the assessors an opportunity to hear directly from stakeholders about the country’s implementation of the EITI Standard, ongoing reforms and outstanding challenges in the extractive sector.

Commenting, the Executive Secretary of NEITI, Musa Adar, described the exercise as an important opportunity for Nigeria to demonstrate its commitment to responsible management of its oil, gas and mining resources.

“Nigeria remains firmly committed to the principles of the Extractive Industries Transparency Initiative. We regard the Validation process as an opportunity not only to assess the progress we have made, but also to highlight areas where further reforms can enhance extractive sector governance,” Sarkin Adar said.

The NEITI boss said the agency had worked with the National Stakeholders Working Group and other stakeholders to prepare for the assessment.

According to him, the preparations included the submission of Nigeria’s validation documentation and targeted engagements with stakeholders in line with the requirements of the 2023 EITI Standard.

He expressed confidence that the mission would strengthen Nigeria’s relationship with the global EITI and reinforce its commitment to transparency, accountability and prudent management of its natural resources.

Validation is the EITI’s independent quality assurance mechanism for determining how well implementing countries comply with the EITI Standard.

The process examines the extent to which countries have improved transparency and accountability in the management of extractive resources while also identifying areas requiring further reforms.

For Nigeria, the latest exercise comes against the backdrop of its previous validation, which produced a moderate score but also identified areas requiring corrective action.

Nigeria underwent its fourth EITI validation in January 2023 under the 2019 EITI Standard and obtained an overall score of 72 points.

The assessment identified a number of corrective actions that Nigeria was expected to address before its next validation.

The 2026 exercise will therefore provide an independent assessment of whether the country has made measurable progress since the last validation and whether reforms have been institutionalised across the extractive sector.

The assessment covers issues central to the management of Nigeria’s vast oil, gas and mining resources, including transparency, public oversight and accountability.

The latest validation is also taking place as Nigeria seeks to deepen reforms in its extractive industries and attract more investment into the upstream oil and gas and mining sectors.

The country has long faced concerns over revenue leakages, opaque ownership structures, crude oil theft, weak public oversight and limited transparency around the management of natural resources.

The EITI process is designed to help address some of these challenges by promoting disclosure and encouraging collaboration among government, extractive companies and civil society.

Nigeria joined the EITI as an implementing country in 2004 and subsequently enacted the NEITI Act in 2007, establishing a statutory framework for promoting transparency in the management of the country’s extractive industries.

Since then, NEITI has conducted industry audits, published reports and made recommendations aimed at improving revenue collection, reducing leakages and strengthening accountability in the oil, gas and mining sectors.

The 2026 validation therefore comes at a critical point for the country as it seeks to demonstrate that previous recommendations have translated into concrete institutional reforms rather than remaining largely on paper.

NEITI said the exercise would also allow stakeholders to present their perspectives on the reforms and challenges affecting the extractive sector.

“The 2026 EITI Validation is an opportunity to demonstrate the progress Nigeria has made in strengthening extractive sector governance, addressing previous corrective actions and institutionalising reforms that promote transparency and accountability,” the agency stated.

The outcome of the exercise will provide an external assessment of Nigeria’s implementation of the EITI Standard and could influence the direction of further reforms in the sector.

The validation mission is expected to conclude on August 14.

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‘Over N20m Lost’ — Inferno Razes Abuja Building Materials Market After Midnight Restocking

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An early-morning fire has ravaged Eda Plaza, a building materials market opposite Chida Hotel in Jabi, Abuja, destroying shops and goods reportedly worth millions of naira.

The inferno broke out around 3am on Sunday, leaving traders counting their losses after the fire spread through parts of the plaza.

An eyewitness told the Nigerian Television Authority (NTA) that the alarm was raised after his brother-in-law, who owns two shops and a packing store at the plaza, received a distress call from a colleague informing him that the market was on fire.

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“We were at home this morning, as early as 3 am, and my brother-in-law received a call from one of his colleagues here in the plaza that the plaza was on fire. So we had to rush down there. On getting here, we discovered that the situation was so bad,” the eyewitness said.

According to him, only one of his brother-in-law’s two shops survived the inferno, while the other shop and the packing store were completely destroyed.

“In this plaza, my brother-in-law had two shops and a packing store. Unfortunately, only one of the shops was saved. The other shop and the packing store were totally damaged by the fire,” he added.

The eyewitness estimated the value of roofing materials lost in the blaze at more than N20 million, revealing that some of the affected materials had been restocked just hours before the fire.

“Over here, you see some of the roofs that we still have here. We are talking about a roof that is worth over N20 million lost in this fire,” he said.

He further lamented that some of the roofing materials had only been restocked the previous night.

“Because the other shop, we had roofs that were just restocked last night. And then the packing store also, we had roofs that were just restocked last night,” he said.

Confirming the incident, the National Public Relations Officer and Head of Corporate Services of the Federal Fire Service, Deputy Controller of Fire Paul Abraham, said a distress call about the Eda Plaza fire was received at 2:46am.

Abraham said the Federal Fire Service, in collaboration with the Federal Capital Territory Fire Service, deployed firefighting appliances from its Wuse, Interior Ministry and Garki stations to battle the inferno.

He disclosed that a stop message was issued at 10:14am, indicating that the fire had been brought under control.

The Federal Fire Service spokesman added that investigations were ongoing to determine the remote and immediate causes of the fire.

Despite the extent of the destruction and the financial losses recorded, no casualty was reported.

The eyewitness expressed gratitude that the incident did not claim any life.
“In our situation, we give thanks to God that no life was lost in this situation,” he said.

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Nestoil Boosts Oil Production with $28m Drilling Fleet

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The quest for increased oil production from the Oil Mining Lease (OML) 42 has seen the Nestoil Group deploy its Pathfinder 500 rig to carry out workover operations on two producing wells.

The deployment, carried out through the Group’s strategic business unit, Scorpio Drilling International, marks the first productive assignment of the Pathfinder 500 since its acquisition about eight years ago.

The Pathfinder 500 is one of two rigs acquired by the Nestoil Group as part of a combined investment of approximately $28 million. The second rig is the Scorpio 300.

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According to a statement issued by the Group over the weekend, the Pathfinder 500 was successfully mobilised to the OML 42 site, where it completed workover operations on the two wells without any Health, Safety and Environment (HSE) incidents before being safely demobilised to base.

The statement added that the successful operation also contributed to incremental oil production from OML 42 and is expected to support the Group’s planned in-field drilling programme.

Chairman of Nestoil/Neconde Group, Dr. Ernest Obiejesi, described the development as a defining moment for the Group and Nigeria’s indigenous drilling capacity.

Obiejesi said the rig had remained idle for eight years amid doubts that it would ever be deployed for productive operations, making its successful mobilisation, incident-free workover campaign and safe demobilisation a significant achievement.

He explained that the decision to invest in the Pathfinder 500 and Scorpio 300 was driven by the need to reduce dependence on hired rigs, which could be difficult and costly to secure within Nigeria’s operating environment.

According to him, as an asset owner in OML 42, the Group requires reliable in-house drilling capacity to undertake workovers, revive mature wells and ultimately drill new wells as the field develops.

He said the successful deployment of the Pathfinder 500 now positions the Group to proceed with its planned in-field drilling programme.

Obiejesi further disclosed that the project, from rig refurbishment to crewing, was executed entirely by Nigerian personnel without foreign partnership or support.

He noted that the rig is currently operated by a 100 percent Nigerian crew, attributing the development to decades of capacity building by international oil companies operating in Nigeria.

The Nestoil chairman said the experience had helped position Nigeria as a net exporter of skilled drilling personnel to other oil-producing countries.

He commended the teams at Scorpio Drilling International and others involved in the rehabilitation and operation of the rig.

Obiejesi also said the achievement extends beyond Nestoil Group, noting that Scorpio Drilling International now has two operating rigs and is among companies with rig assets in Nigeria.

“Nestoil Group, through Neconde Energy, holds interests in OML 42 and continues to invest in indigenous drilling, workover and well-services infrastructure to sustain and increase oil production from the asset.

“Scorpio Drilling International operates the Pathfinder 500 and Scorpio 300 rigs and provides drilling services to the Group and third parties across Nigeria’s oil and gas industry,” the statement added.

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Tinubu Mourns Eagle Online Publisher, Dotun Oladipo

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President Bola Ahmed Tinubu expresses deep sadness over the sudden death of Mr Dotun Oladipo, former Political Editor of The Punch newspaper and Publisher of The Eagle Online, describing his death as a painful loss to Nigeria’s media industry and the nation at large.

President Tinubu acknowledges the deceased’s contributions to journalism, particularly his years of dedicated service in political reporting and his commitment to providing Nigerians with credible information through both traditional and digital media platforms.

The President says Oladipo’s professional career reflected the important role journalists play in strengthening democracy by informing citizens, holding public officials accountable and providing platforms for robust public discourse.

READ ALSO: Akpabio Mourns Dotun Oladipo

He recalls the deceased’s passion for his profession and his contributions to the growth of digital journalism through The Eagle Online, which he founded after his remarkable career at Punch Newspaper.

“Dotun Oladipo’s death at the age of 56 is a painful loss to the Nigerian media community and to our nation. He was a committed journalist who devoted significant years of his life to informing the public and contributing to the development of our democracy.

“His contributions to political journalism and the digital media space will not be forgotten. I extend my heartfelt condolences to his family, colleagues in GOCOP and friends. I pray that Almighty God will grant him eternal rest and give his loved ones the strength to bear this irreparable loss,” President Tinubu notes.

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