Poor Transparency Rating Could Scare Investors Away, NEITI Warns
Abuja, Nigeria – The Nigeria Extractive Industries Transparency Initiative (NEITI) has warned that Nigeria’s poor transparency rating could discourage foreign investors from committing funds to the country’s oil, gas, and mining sectors.
The agency stressed that transparency and accountability remain critical factors considered by investors when making investment decisions, particularly in the extractive industry.
According to NEITI, weak transparency records can create concerns about governance, regulatory certainty, and the effective management of natural resource revenues, potentially affecting investor confidence.
The organization called for stronger reforms aimed at improving accountability, public disclosure, and compliance with global transparency standards across the extractive sector.
NEITI noted that enhancing transparency would not only attract investment but also strengthen public trust, improve revenue management, and support sustainable economic growth.
The agency urged relevant stakeholders to prioritize good governance practices and implement measures that promote openness in the management of Nigeria’s natural resources.
Industry experts believe that improved transparency could help position Nigeria as a more attractive destination for international investors seeking opportunities in the energy and mining sectors.
