The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR) have agreed to work in partnership and collaborate on deployment of reliable data, public disclosure to support ongoing governance and institutional reforms and public finance management.
Rising from an elaborate meeting held at the NEITI House Abuja, the executive secretary of NEITI, Dr Orji Ogbonnaya Orji and the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele identified the importance of NEITI’s reports in the oil, gas and mining sectors and the deployment of accurate data as critical success factors in evolving enduring fiscal policies and tax reforms in Nigeria.
Receiving the delegation, the executive secretary of NEITI, Dr Orji Ogbonnaya Orji remarked that NEITI’s key focal areas of improving Nigeria’s macroeconomic environment, strengthening public expenditure management, structure, institutional and governance reforms to boost economic growth, create jobs and poverty reduction aligns closely with the mandates of the Presidential Committee.
According to the NEITI Boss: “With the combined forces of the Presidential Committee and NEITI, Nigeria would benefit from shared knowledge, skills, information and data that informs best economic reforms and policy making”.
He noted that NEITI is available to provide information and data as contained in the NEITI oil, gas, solid minerals and the Fiscal Allocation and Statutory Disbursement Reports and advised the Committee on the need to utilise the findings and recommendations contained in the NEITI reports to advance economic policy initiatives for the benefit of the citizens.
Dr. Orji congratulated the Chairman of the Presidential Committee, Taiwo Oyedele on his appointment to undertake such a critical task and pledged the cooperation of NEITI to support and ensure the success of their national assignment.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms (PCFPTR), Taiwo Oyedele commended NEITI for the work that the agency is doing in the extractive sector and maintained that such efforts are the reason behind NEITI’s selection by the Committee as one of the key Agencies to support the Committee with data and information that will enable it to deliver on its assignment.
He explained that the Committee has classified its work in three distinct categories including fiscal governance with particular attention to financial management, revenue generation, borrowing, spending as well as policy coordination at the national and sub-national levels.