Stakeholders in the Extractive industries on Wednesday commenced an advocacy dialogue on the 2026 Nigeria validation by the Extractive Industries Transparency Initiative (EITI), among other things, unveiled the New Tax and Revenue Framework.

Speaking in Abuja during the Advocacy Dialogue For Stakeholders on Implementation of the Global EITI, the Nigerian Extractive Industries Transparency Initiative (NEITI) Executive Secretary, Hon. Musa Sarkin Adar said.

“A key deliverable of this dialogue is the official unveiling of NEITI’s newest Policy Brief, “Beyond Assent: Pathways for Implementing Nigeria’s New Tax and Revenue Framework.”

Represented by NEITI, Director Policy Planning and Strategy, Dr Dieter Bassi, he said while Nigeria has commendably passed crucial tax reforms into law, legislation alone does not guarantee results.

According to him, the policy brief focuses on bridging the gap between policy approval and practical execution, addressing revenue leakages, robust revenue mobilization, and improving transparency in revenue management.

Civil society and the media have critical roles to play in tracking the implementation of these new laws to ensure reforms genuinely translate into improved public value and citizen welfare.

He also explained that the engagement requires civil society to provide concrete inputs into the comprehensive 2026 Nigeria EITI Work plan.

Adar said the stakeholders’ insights and recommendations will directly and meaningfully shape how NEITI structures its implementation going forward.

He commended the European Union and the International Institute for Democracy and Electoral Assistance (EU-IIDEA) for providing essential support for this timely and important program.

Meanwhile, the Secretary to the Government of the Federation (SGF), Senator George Akume, said the dialogue came at a critical moment for Nigeria.

He noted that as a nation, the country is navigating complex economic reforms, fiscal pressures, and heightened public expectations for accountability in the management of Nigeria’s natural resources.

Akume, who is also the chairman of the National Stakeholders Working Group (NSWG), stressed that the extractive sector remains central to Nigeria’s economic stability, revenue mobilisation, and long-term development aspirations.

He, however, said that it is also a sector where governance gaps, inefficiencies, and lack of transparency have historically constrained its full potential.

Akume revealed that the findings and recommendations of NEITI reports over the years have become part of the major tools driving the ongoing reforms in the oil, gas, and mining sectors.

He recalled that the 2023 EITI Standard assumed heightened relevance.

Continuing, he said the “Standard challenges all implementing countries to not only disclose information but to ensure that transparency drives reform, strengthens institutions, and delivers tangible benefits to citizens.

“For Nigeria, this means going beyond compliance to using EITI as a reform tool that supports domestic revenue mobilisation, prudent fiscal management, and inclusive governance.”

Source; The Nation News