Osinbajo Flies To Indonesia For Confab On Extractive Industries Transparency Initiative

Vice President Yemi Osinbajo, today, Sunday, took off to Jakarta, Indonesia for a two-day working visit during which time he will address the opening plenary of the Extractive Industries Transparency Initiative (EITI) Beneficial Ownership Conference.
A statement by the Senior Special Assistant to Vice President Osinbajo on media and publicity, Laolu Akande, said that the conference takes place in Jakarta, Indonesia, from tomorrow. Monday and Tuesday.
It said that the Vice President is expected to speak on a range of issues concerning Nigeria’s extractive industry and general reforms embarked upon by the Buhari administration in the extractive sector of the economy.
The statement said that other world leaders and top government dignitaries expected to speak at the event include the President of Indonesia, Joko Widodo; Minister of National Development Planning in Indonesia, Bambang Brodjonegoro; EITI Chair, Fredrik Reinfeldt; among others.
This year’s conference, which will focus on using beneficial ownership information to achieve national priorities for the extractive sector and to improve natural resource governance, has as its theme: “Opening up ownership – sharing practice, building systems”.
Hosted by the Government of Indonesia and other partners committed to working on beneficial ownership reform to showcase best practices so far, the conference will discuss challenges, provide peer learning and exchange experiences.
According to the organisers, the conference is coming in the aftermath of the Panama papers scandal that implicated some highly placed individuals with links to the extractive sector across the world. The EITI last year agreed to adopt new rules on disclosing beneficial ownership for all extractive companies operating in its 52 member countries.
Nigeria joined the EITI to promote prudent management of revenues from its abundant natural resources to reduce poverty and ensure sustainable development. The NEITI is the Nigerian national sub-set of the global EITI.

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