SITEI 2016 spot lights investment potential in Nigeria’s extractive industry

Strengthening investment interest in Nigeria’s extractive industries amid recession and other strategic opportunities in the economy will be the focus of the 5th Sustainability in the Extractive Industries (SITEI) conference scheduled for November 15, 2016, in Abuja.

The event which will be holding for the second time in five years will focus on government’s commitment to the sustainable development of the oil and gas and other sectors of the Nigerian economy with strong potential for prosperity and economic growth and development; with particular emphasis on the mineral sector.

With the theme Revitalising the Nigerian Economy Beyond Oil: Prospects for a Thriving, Export-Driven Extractive Sector the conference is being organised by CSR-in-Action, a conglomerate of 3 sustainability driven businesses; Consulting, Training and Advocacy in partnership with the Federal Ministry of Mines and Steel Development (MMSD); Nigerian Extractive Industries Transparency Initiative (NEITI); the Nigerian National Petroleum Corporation (NNPC) and other stakeholders.

Bekeme Masade, CSR-in-Action Founder and convener of SITEI, while speaking to the relevance of SITEI in the current economic landscape said, “Knowing that we are officially in a recession makes the need for collaborative efforts to turn things around drastically even more glaring”. Masade observe that it is only through an inclusive approach to innovation like SITEI provides that we can begin to embark on cohesive efforts that will birth lasting solutions, boost productivity, increase wealth, create more jobs, and contribute to the overall wellbeing of the society.

In recognition of their significant roles in the diversification of the Nigerian economy John Kayode Fayemi, Minister of Mines and Steel Development and Amina Mohammed, Minister of Environment are scheduled to shed more light on their ministries’ plans for progressive and responsible growth and development of the nation at the conference; including the roadmap for the Ajaokuta Steel Company.

Further emphasising the impact of the SITEI conference at the Stakeholders’ meeting, Ogbonnaya Orji, NEITI Director of Communications conveyed NEITI’s ongoing support of CSR-in-Action’s efforts for sustainability in the sector. He said, “We are happy to support the SITEI conference because of its perfect alignment with the ministry’s efforts at revitalising the sector.

I congratulate the event organiser, CSR-in-Action, for its consistency and depth in mirroring the challenges of the sector and advocating best practices in line with globally accepted Integrity and sustainability metrics.”

SITEI 2016 is, therefore, poised to be even more significant this year with the inclusion of a diverse group of stakeholders seeking to optimise the productivity of the extractive industries to attract FDI, induce capital retention and boost the national GDP through close collaboration between federal parastatals, MIREMCOs, host communities, businesses and civil society organisations.

Working with other notable partners and sponsors like Ford Foundation, Robert Gordon University (RGU), Shell Petroleum Development Company (SPDC), Lafarge Africa, Pricewaterhouse Coopers (PwC) and Heinrich Boell Foundation, SITEI 2016 will bring together critical stakeholders from government, private sector, civil society, media and academia to engage in a series of solutiondriven discussions, building on outcomes from the Stakeholders’ meeting conducted at the Honourable Minister’s Conference Room, Federal Ministry of Mines and Steel Development (FMMSD) earlier in September.