The Nigeria Extractive Industries Transparency Initiative has warned that Nigeria could lose significant foreign investment in its oil, gas and mining sectors if the country performs poorly in the forthcoming validation exercise of the Extractive Industries Transparency Initiative.
The Executive Secretary of NEITI, Musa Sarkin-Adar, gave the warning on Wednesday in Abuja during a stakeholder engagement session with civil society organisations and the media ahead of Nigeria’s 2026 EITI Validation scheduled to commence on July 1.
Sarkin-Adar said the validation exercise was critical to Nigeria’s reputation among international investors, stressing that transparency and accountability had become major considerations in global investment decisions.
According to him, although Nigeria possesses abundant natural resources and remains one of Africa’s most attractive investment destinations, concerns over governance standards and transparency continue to affect investor confidence.
He added that the briefing was key to the validation process, clarifying stakeholder roles, and strengthening Nigeria’s readiness for what it considered a critical assessment of the country’s transparency standards in the oil, gas and mining sectors.
“Most Nigerians are not fully aware of the functions and importance of NEITI. NEITI is an enabler for investment in the oil and gas and mining sectors because our assessments and reports help guide foreign investors who want to invest in Nigeria.
“Nigeria is an investment haven. Everybody wants to come and do business in Nigeria, and I believe it is more rewarding than many other places. However, scrutiny of investments all over the world matters, and that is what NEITI is there to guarantee and ensure.
