Extractive Industries: Committee To Recruit Conciliator For 2014 Report

Officials of the Extractive Industries Transparency Initiative are updating the public on their activities at the Yaounde government action trade fair.

 

The stand of the Extractive Industries Transparency Initiative, EITI, is one of those pulling crowds at the Yaounde trade fair on government action SAGO, holding at the premises of the National Museum. Early visitors took EITI officials like Hon Martin Oyono and Richard Ndi Tanto hostage yesterday, August 23, 2016 even before the official opening of the fair to understand the functioning of the committee.

After establishing its feet on the ground and complying in 2013, EITI thinks it is time to wake up from slumber and tell Cameroonians its achievements in promoting public awareness on how the country manages its oil, gas and mineral resources. The Yaounde fair is therefore an opportunity for the committee to open up to the public, with officials stating that the last two conciliation reports have been rated as good by the international community. It has been a moral booster, with the committee proposing reforms to make financial flow more traceable. EITI works with over 22 companies (oil exploration and transportation as well as mining) with an annual levy margin of FCFA 50 million.

Officials revealed that the committee was in the process of engaging a conciliator for the 2014 report. Figures for the report are only compiled when the State accounts are already certified. This is to ensure that the tax figures from companies are in compliance with those from the public treasury. The committee will in 2017 undergo re-validation from the International Secretariat with focus on how far it respects norms without which it can suffer a reclassification.

Visitors to the stand are also sensitised on how to engage government in public policy with emphasis on the use of resources. “We are moving out of reports to its uses,” Richard Ndi Tanto said, stressing that they were now focusing on how resources highlighted in reports are used to change the lifestyles of Cameroonians.

 

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