Lagos — The Chairman of the Nigerian Extractive Industry Transparency Initiative (NEITI), Prof. Asisi Asobie, yesterday in Abuja, told visiting United States (U.S.) Congress officials, that the 2005 Audit report of Nigerian oil and gas sector would be made public soon.

The NEITI 1999 - 2005 Audit report of the Nigerian oil and gas sector, which was made public in 2006, had shocking revelations including how Nigeria does not know the real amount of oil it produces; tax evasion by oil companies and woeful records keeping of money received and disbursed by the Central Bank of Nigeria for the period.

Prof. Asobie assured his visitors that the 2005 Audit report was on the verge of completion and would soon be made public.

He then praised the US congress for its assistance in ensuring that the NEITI bill was passed into an Act of parliament in the last days of the immediate past government of Nigeria.

The NEITI boss also told the US Congress officials that the NEITI would from now on put its searchlight on the Nigerian Solid Mineral sector, with the view of bringing orderliness to the sector, as it is now characterised by illegal, small scale miners who apart from being environmental nuisance, do not add anything to government coffers.

According to Asobie, after the first NEITI report, some key government agencies tasked with the responsibility of collecting, keeping and disbursing revenue from oil, have been strengthened to perform their roles better.

He said in the Department of Petroleum Resources (DPR), responsible for collecting royalties on oil proceeds by oil producing companies have been strengthen by way of capacity building and acquisition of new and modern metering among others.

He called on the US to continue to help Nigeria in its drive to seeing more transparency in the Nigerian Extractive Sector.

The Leader of the delegation, Michael Phelan, Staff Member of US Senate Foreign Relation Committee, said that the aim of their coming was an expression of the interest that the US congress holds on issues of transparency world wide.

He said that Nigeria is a great country with both human and natural resources that could be used to better the living standard of its people.