Development Experts Pit Against FG Over Opaqueness In Extractive Industry

Extractive Industry
Extractive Industry

Development experts came together and castigated Nigerians for being apathetic in demanding transparency in the extractive industry from the Federal Government.

After a documentary was rolled out that Nigeria generated N83 trillion from the petroleum resources which accounted for 70 per cent revenue in the last four decades, the experts agreed that given transparency, extractive industry would have accrued more revenue to the government.

Baring their minds during the concluded Social Media Week 2020 in Lagos held at Landmark Event Centre on the topic Technology for Transparency in extractives, they observed that Nigerians are the losers for keeping mute over opaqueness in the sector.

Israel Tunji Larner, a holder of doctorate degree expressed worry over a disconnection among Nigerians in demanding for accountability in the sector.

Tengi George-Ikoli, Programme Co-ordinator, Nigeria Natural Resource Charter lamented that disconnection is a major programme in the sector, saying despite sensitization campaign mounted by her organization, many including most members in the National Assembly did not see the need to demand accountability in the extractives.

In his contribution, Michael Uzoigwe, a doctorate degree holder and Technical Lead, Accountability, FOSTER Nigeria condemned lack of transparency in the sector, noting that the fiscal social contract in Nigeria is weak.

Amara Nwankpa, Director, Public Policy Initiative, Shehu Musa Yar-Adua Foundation, regretted over the poverty bedevilling Nigerians as a result of being latent in their demands in the face of obvious deprivations by government.