Osinbajo departs for EITI Conference in Indonesia

Vice President Yemi Osinbajo left the country on Sunday on a two-day working visit to the Republic of Indonesia, a statement released by Mr Laolu Akande, the Vice President’s Spokesman said.

Akande said that during the visit Osinbajo would address the plenary of the Extractive Industries Transparency Initiative (EITI) Beneficial Ownership Conference taking place in Jakarta, Indonesia, from Oct. 23 to Oct. 24.

According to the statement, the Vice President will 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, among other issues.

Other dignitaries scheduled 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.

This year’s conference would focus on using beneficial ownership information to achieve national priorities for the extractive sector and to improve natural resource governance with the theme: “Opening up ownership – sharing practice, building systems”.

The conference was hosted by the Government of Indonesia and other partners committed to working on beneficial ownership reform to showcase best practices so far.

The conference also would 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, while the Buhari administration is renowned globally for its position on anti-graft issues, and its campaign against corruption.

The EITI has held a global conference at least every three years since 2003, bringing together all stakeholders of the EITI with no fewer than seven conferences held till date.

While in Jakarta, the Vice President would hold bilateral talks with his Indonesian counterpart, Jusuf Kalla, and would also be hosted to a state reception by the government of Indonesia.

Osinbajo would also meet with representatives of the Indonesian business community, the Chairman, International Board of EITI, and African Group of Ambassadors accredited to Indonesia.

He is expected back in Abuja on Tuesday.

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