NEITI Recovers $9 Billion for Nigeria's Economy

The Nigeria Extractive Industries Transparency Initiative (NEITI) has successfully recovered $9 billion for the Nigerian government since its establishment in 2003. This announcement was made by Mallam Sa'ad Balarabe, the Director of the Energy and Mining Department at NEITI, during a two-day stakeholder engagement focused on the 2024 solid minerals industry audit.

The event took place at the Wawa Hall in the Government House, Damaturu, Yobe State. The theme of the engagement was "Unlocking Nigeria's Solid Mineral Potential for Economic Diversification." Balarabe emphasized NEITI's commitment to exposing discrepancies and hidden funds in the management of Nigeria's natural resource wealth, which is crucial for reducing corruption and improving governance.

Despite the significant recovery of funds, unresolved financial liabilities remain a major concern. Hon.

Idi Bard Gubana, the Deputy Governor of Yobe State, highlighted the importance of the solid minerals sector as a credible pathway for industrial growth and sustainable prosperity.