Page 48 - Nigeriaone mag 2 edition en

The EITI standard, the Extractive Industries Transparency

Initiative

Oslo, Norvège, siège of l'ITIE

Established in 2003, the Extractive Industries While the EITI standard systematically addresses
Transparency Initiative (EITI) is now a significant the three components of stakeholder engagement,
indicator of quality governance in the extractive transparency and impact, some countries stand out
industries. More than 50 countries have adopted for their innovative policies that reflect a commit-
and implemented the standard. ment to improvement. In terms of transparency,
Senegal has made significant progress by making
Countries are rated on their ability to make prog- accessible to citizens information on mining, oil
ress to meet the requirements of the EITI Standard and gas registries via platforms. This significant
through Validation. Validation is the EITI's quality progress allows Senegal to obtain a rating of Very
assurance mechanism and is based on two funda- High according to the IITEE standard, making this
mental assumptions. First, it recognizes that each country an African model. For the period 2022,
country's initial situation is unique. Therefore the Nigeria, the giant of the continent also obtains a
issues and challenges in implementing the EITI are very honorable rating of High. The EITI, through
different. Validation is also based on the recogni- several recommendations in its reports, has sup-
tion of the EITI as a tool for improving governance ported and maintained a national debate that cont-
in the extractive sector. This validation process is ributed to the enactment of the landmark oil in-
therefore relatively equitable and fair. dustry law in 2021.

International 48