3 March 2012
The high expectations Nigerians had over Mallam Nuhu Ribadu‘s appointment as the chairman of the Revenue Taskforce for the Oil Sector may not be easily met as the responsibilities assigned to the taskforce are by law the mandate of the Nigeria Extractive Industries Transparency Initiative (NEITI).
This development is coming as the main committee is scheduled to hold its first meeting this week to fashion out its mode of operations to achieve the mandate spelt out for it by the petroleum Minister, Mrs Dieziani Allison-Maduekwe.
NEITI was set up by an Act of the National Assembly with a statutory responsibility to track revenue inflows in the oil and mineral sectors with a view to enforcing transparency and accountability in the sector, the same task that is now assigned to Ribadu committee.
While the Ribadu committee is only a ministerial committee, NEITI has a force of law with an international dimension as it was stipulated for all oil and mineral rich nations as a way of eradicating corruption from the extractive industry sector.
Investigations by Saturday Tribune showed that since the appointment of the Ribadu committee, NEITI and its inter-ministerial team have become uncomfortable as there was no reference to NEITI in the making of the Ribadu committee.