NEITI warns poor transparency rating could deter foreign investment in Nigeria's extractive sectors
via Punch Nigeria3 min read
The Nigeria Extractive Industries Transparency Initiative NEITI has cautioned that Nigeria risks losing substantial foreign investment in its oil, gas, and mining sectors if it performs poorly in the upcoming Extractive Industries Transparency Initiative EITI validation exercise. NEITI Executive Secretary Musa Sarkin-Adar issued this warning in Abuja during a stakeholder engagement ahead of Nigeria鈥檚 2026 EITI Validation, scheduled to begin on July 1. Sarkin-Adar emphasized that transparency and accountability are crucial for global investment decisions, and a strong validation outcome is vital for Nigeria's international reputation. He noted that while Nigeria has abundant natural resources, concerns about governance standards and transparency continue to impact investor confidence. Sarkin-Adar highlighted NEITI's role as an enabler for investment, guiding foreign investors through its assessments and reports. He expressed concern that a poor validation could lead investors to choose other countries like Guyana and Tanzania, which have established higher standards. The NEITI chief also lamented the inadequate cooperation from several government institutions, including the Nigerian National Petroleum Company Limited, the Central Bank of Nigeria, and the Ministry of Finance, which he said often fail to respond to correspondence in a timely manner. He clarified that NEITI is an accountability and transparency institution, not a regulator, and aims to ensure Nigeria remains resp
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Must ReadUnited States lawmaker Riley Moore has expressed approval of the Nigerian Senate's passage of the Constitution Alteration Bill, which aims to establish state police. Moore, who represents West Virginia鈥檚 2nd Congressional District, stated on his X handle that this reform would enable states to better protect their citizens, particularly persecuted Christians. He noted that he has advocated for this reform publicly and privately since investigating attacks against Christians in Nigeria. The bill, which seeks to decentralize policing by allowing states to create their own police services alongside the Nigeria Police Force, was approved by the Senate after more than two-thirds of senators voted in favor. Moore also commended President Bola Tinubu for supporting the proposal, but highlighted that the amendment still requires approval from at least two-thirds of the state Houses of Assembly to take effect. The proposed legislation would allow governors to appoint Commissioners of Police for their states, subject to confirmation by their state Houses of Assembly, and includes safeguards to prevent the deployment of state police against individuals or groups for criticizing a state government, unless in accordance with the law.
Morocco secured a 4-2 victory over Haiti in a World Cup match in Atlanta, despite twice falling behind. Haiti scored their first World Cup goals in 52 years, with a Yassine Bounou own goal and a strike from Wilson Isidor giving them leads. Achraf Hakimi and Ismael Saibari equalized for Morocco before halftime. Soufiane Rahimi then put Morocco ahead, and Gessime Yassine sealed the win. Morocco finished second in Group C to Brazil on goal difference and will proceed to the last 32. Haiti, though eliminated without a point, received strong support from fans. Sunderland striker Isidor expressed pride in his team's performance and confidence for future World Cups. Hakimi, who was named man-of-the-match, stated he is in a good personal and professional moment despite facing a trial on rape charges in France.
US President Donald Trump initiated 16 days of celebrations for America鈥檚 250th anniversary with a speech on Washington鈥檚 National Mall, which critics say blended national commemoration with a political showcase for his second-term agenda. Trump's address, described as largely indistinguishable from his political rallies, emphasized themes such as America being "back" and the "hottest country anywhere in the world." He highlighted what he called a booming economy, criticized his predecessor Joe Biden, and claimed significant inward investment. Trump also spoke about the US-Israeli war with Iran as a victory and the capture of Venezuelan leader Nicolas Maduro as a great military raid. The event, which kicked off the Great American State Fair, features state pavilions, military flyovers, music, and patriotic displays. However, several musicians withdrew from the original program due to concerns about its partisan nature, leading Trump to announce himself as the headliner. The revised lineup included Lee Greenwood and opera singer Christopher Macchio. Trump also discussed renovations of Washington鈥檚 buildings and monuments, promising the forthcoming Independence Day festivities would be "the greatest show of all."