The Nigeria Extractive Industries Transparency Initiative (NEITI) is calling for enhanced regional collaboration to boost revenue generation in Africa, particularly through domestic resource mobilization. This was outlined in a press statement released on Monday by NEITI’s Deputy Director/Head of Communications and Stakeholders Management, Mrs. Obiageli Onuorah.
NEITI’s appeal for stronger partnerships was made during a recent Extractive Industries Transparency Initiative (EITI) meeting in Lusaka, Zambia, which brought together representatives from English- and Portuguese-speaking African nations.
Dr. Ogbonnaya Orji, Executive Secretary of NEITI and Nigeria’s National Coordinator for EITI, emphasized the need for strategic cooperation among EITI-implementing countries to address the region’s budget deficits, rising debt burden, and to promote economic diversification and sustainable development.
“The shared commitment to transparency, accountability, and innovative approaches will be crucial in driving economic development and addressing the challenges posed by the evolving global energy landscape,” Orji said.
He further noted that Nigeria remains open to peer learning and opportunities for sharing innovation with other EITI member countries.
Orji urged member countries to fully embrace DRM strategies, develop partnerships to enhance revenue generation, and reduce their reliance on oil by diversifying their economies.
“Investing in non-oil sectors and creative industries will be essential for achieving sustainable economic growth,” he emphasized.
Representing Nigeria at the Lusaka meeting, Orji outlined the country’s plans to diversify its economy, focusing on developing the solid minerals sector, advancing gas commercialization, and liberalizing the oil, gas, and mining industries.
He also stressed the importance of creating an attractive investment climate to stimulate economic growth.
“The opportunities presented by Domestic Resource Mobilisation (DRM) are best realised through regional partnerships with countries rich in oil, gas, and mining—a common factor within the EITI community,” he added.
The Lusaka meeting brought together EITI National Coordinators from West, East, Central, and Southern Africa, alongside development partners and international organizations. Discussions focused on advancing strategies for DRM to boost revenue generation, reduce poverty, and address budget deficits.
The Director for Africa at the International Secretariat of EITI emphasized that innovation, openness, and collaboration are essential for managing the challenges faced by oil-dependent countries amid climate change and the global energy transition.
Orji welcomed ongoing collaborations between Nigerian anti-corruption agencies, noting that these efforts are already yielding positive results in ensuring a more transparent and accountable extractive sector.
