The Nigerian National Petroleum Business (NNPC) Limited closed the year on a high note, winning the overall best company in oil and gas reforms award at the Open Government Partnership worldwide awards in Seoul, South Korea.
Nigeria won the honour over other African and Middle Eastern member nations who were building a Beneficial Ownership register to stop anonymous firms in their country.
Zainab Ahmed, Nigeria’s Minister of Finance, Budget, and National Planning, congratulated the country on the honour, saying that establishing a beneficial ownership register had helped the country “track, reduce, and arrest corrupt practices that are undertaken either by companies or beneficial owners of companies.”
Obiageli Onuorah, the Nigeria Extractive Industries Transparency Initiative’s Deputy Director/Head Communications & Advocacy, stated in a statement that a number of considerations were taken into account before Nigeria was chosen for the prize.
According to Onuorah, the summit took into account the government’s overall commitment to reforms in the oil, gas, and mining sectors, as well as NEITI’s support for the establishment of a beneficial ownership record of firms in the extractive sector of Nigeria.
The CAC’s larger revisions in beneficial ownership declaration through amendments to the Companies and Allied Matters Act (CAMA) and the current Petroleum Industry Act were also taken into account (PIA).
Orji Ogbonnaya Orji, NEITI’s Executive Secretary, expressed happiness that the world community was beginning to evaluate Nigeria’s efforts to combat corruption and improve its democracy.
He characterized the award as “amazing” and “encouraging,” especially given the government’s political resolve and vast resources to reposition the extractive industry to benefit all Nigerians.
The Open Government Partnership (OGP) is a collaboration of 78 nations, 76 local governments, and civil society groups, representing over 2 billion people.