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NNPC wins 2021 global award for oil and gas reforms in South Korea

Malam Mele Kyari, Group Managing Director and CEO of NNPC Limited

*The Open Government Partnership (OGP) global awards has considered the Federal Government’s overall commitment to reforms in the oil, gas, and mining sectors of the economy, and support to NEITI to establish a beneficial ownership register of companies in Nigeria’s extractive sector ─Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI

Gbenga Kayode | ConsumerConnect

In view of the company’s commitment to transparency, accountability and reforms in managing of the West African country’s oil, gas and extractive sectors of the economy, the Nigerian National Petroleum Company (NNPC) Limited has won an award as the overall best company in oil and gas reforms at the Open Government Partnership (OGP) global awards held in Seoul, South Korea.

ConsumerConnect reports aside from landmark reforms in the NNPC in the course of the outgoing year 2021, the company has continued to share information with stakeholders and Nigerians in general through the NNPC Monthly Financial and Operations Report (MFOR), which the July 2021 edition as the 72nd edition of the Report series.

Nigeria picked the award at the expense of other member countries across Africa and the Middle-East that were implementing a Beneficial Ownership registry to end anonymous companies in their countries.

Mrs. Obiageli Onuorah, Deputy Director/Head of Communications & Advocacy of the Nigeria Extractive Industries Transparency Initiative (NEITI), in a statement disclosed that a lot of factors were considered before Nigeria was picked for the award in Seoul this year.

Onuorah said the summit considered the Federal Government’s overall commitment to reforms in the oil, gas, and mining sectors, as well as the support given to NEITI to establish a beneficial ownership register of companies in a business in Nigeria’s extractive sector.

The statement noted that the OGP Summit also considered the broader reforms in beneficial ownership disclosure by the country’s Corporate Affairs Commission (CAC) through the amendment of the Companies and Allied Matters Act (CAMA) and the recent Petroleum Industry Act (PIA).

Congratulating Nigeria on winning the coveted award in South Korea, Mrs. Zainab Ahmed, Honourable Minister for Finance, Budget and National Planning noted that establishing a beneficial ownership register had helped Nigeria “track, reduce and arrest corrupt practices that are undertaken either by companies or beneficial owners of companies.”

Dr. Orji Ogbonnaya Orji, Executive Secretary of NEITI, while commenting on the feat, also expressed delight that the international community was beginning to assess Nigeria’s efforts at fighting corruption and deepening its democracy.

Orji described the award as impressive and encouraging, considering the political will and enormous resources the Nigerian Government had deployed to reposition the extractive industry to benefit all Nigerian consumers.

According to NEITI, the Open Government Partnership is a partnership of 78 countries, 76 local governments, Civil Society Organisations (CSOs), which altogether represents more than two billion people the world over.

ConsumerConnect had reported the OGP recently celebrated its 10th Anniversary, where  the organisation showcased how government and civil society partnerships have attained ambitious reforms and more robust results around the globe.

Over the past decade, 78 countries have engendered more than 4,500 reforms between governments and civil society, said the organisation.

Two thousand of these reforms were reviewed independently, out of which over 20 per cent were adjudged to have made governments significantly more open.

Therefore, among the reforms that the OGP considered is Nigeria’s Beneficial Ownership Transparency programme, which came tops and earned the country the first position at the latest OGP Global Awards, in South Korea.

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