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Global transparency agency names NNPC partner company

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The Extractive Industries Transparency Initiative, a global agency that promotes open and accountable management of oil, gas and mineral resources, on Tuesday named the Nigerian National Petroleum Cor

poration as an EITI partner company.

As an EITI partner company, the NNPC said it had joined a group of over 65 extractives companies, state-owned enterprises, commodity traders, financial institutions and industry partners who commit to observing the EITI’s supporting company expectations. The corporation said the status would require it to publicly disclose taxes and payments and ensure comprehensive disclosure of taxes and payments made to all EITI implementing countries.

The partner company status will make NNPC engage in rigorous procurement processes, including due diligence in respect to partners and vendors.

 

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