Industry Audit: NEITI signs contract with 4 firms

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

A statement by the Director, Communications,NEITI, Orji Ogbonnaya Orji, was signed between the NEITI Management and the representatives of the Consortium of Taju Audu Effectivo who won the contract.

Taju Audu Effectivo Consortium is made up of four firms: Two Nigerian firms; Taju Audu &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 urged the Consultants to put in their best to ensure that the assignment is completed by November, 2014.

Mrs. Ahmed noted that 85% 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.

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.