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National Mirror: NEITI signs contract for 2012 oil, gas industry audit

The Nigeria Extractive Industries Transparency Initiative (NEITI) has signed the contract for the audit of the oil and gas industry for the year 2012.

 

The Director of communications Dr. Orji Ogbonaya Orji said the signing ceremony which took place at the NEITI Secretariat had in attendance NEITI Management and representatives of the Consortium of TajuAuduEffectivo who won the contract.

Taju Audu Effectivo Consortium is made up of four firms: Two Nigerian firms; TajuAudu&Co. and Effectivo Capital Limited, and two international firms of Baker Tilly International and Resource Consulting Services Limited.

The Executive Secretary of NEITI Mrs. Zainab Ahmed in her remarks noted that the Audit is critical for NEITI to maintain its high ranking at the global EITI and to meet the requirements of the NEITI Act and the expectations of Nigerians.

She stated, “This is very important cycle of NEITI oil and gas audit, the audit we are starting today is the audit for 2012. The audit of the oil and gas industry that NEITI conducts has become very important for a number of reasons, the main reason being that there is great expectations from Nigerians for increased transparency and accountability of the management of revenues of the oil and gas sector of our country.

Ahmed stated, “You have come to us as a consortium of three, four firms with strong personnel. We expect that you will be able to deliver this assignment effectively and on time.

She said, “On our part, we are fully committed to giving you all the support needed so that you succeed in this assignment so that this report is submitted on time to meet the EITI deadline of 31st December, 2014” she said.

The Executive Secretary said the consultants to put in their best to ensure that the assignment is completed by November, 2014.

Ahmed noted that 85 per cent of the data required for the audit has been collated by NEITI and that the consortium is expected to ensure speedy reconciliation, verification and validation of the data

The Executive Secretary enjoined the auditors to be diligent and to display high level of professionalism, integrity and objectivity in the discharge of this important assignment.

Mr. Taju Audu who spoke on behalf of the Consortium thanked the NEITI management for the confidence reposed on them, noting that they fully understood the import of the assignment and will give it their best to ensure they meet the November 30th, 2014 deadline for the conclusion of the audit.

“We appreciate and understand the sensitivity of this assignment and we know this particular one is much more challenging because of the short time and we appreciate the fact that a lot of job has been done in terms of gathering data. We want to assure NEITI that the job will be updated at the right time and of utmost quality” he assured.

The 2012 oil and gas industry audit is the fifth in NEITI’s cycle of audits in the oil and gas sector since the agency commenced operations in 2004 as a member of the global EITI. The previous audits covered the periods 1999-2004, 2005, 2006-2008 and 2009-2011.

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