By Bampia James Bundu
Chairman of the National Advocacy Coalition on Extractives, NACE, Dr. Olagide Mustapha Thomas has revealed that by 2020 Sierra Leone will get about 17% of its Gross Domestic Product from the oil and gas industry.
He was addressing journalists at State House on Sierra Leone’s latest compliance status with the Extractive Industries Transparency Initiative, EITI. He said that in 2013 the country was suspended by the EITI board for not meeting some of its requirements, which he said was a major challenge for the country and its people.
Dr Thomas recalled that the multi-stakeholders group that comprises the government, civil society and the media, worked hard to ensure that they met some of the requirements set out by EITI global secretariat. He said that with support from the State House Chief of Staff they were able to finalise all the requirements and Sierra Leone was finally enlisted as a compliant country.
He, however, revealed that in 2011 revenues from oil, gas and the mining sector contributed less than 1% of the country’s GDP, but that that was growing fast and had been forecast to grow up to 17% by 2020.
He stated that the EITI process had helped open their minds and eyes to many things and it was about time they ensured that public officials were more accountable and transparent.
The geologist-cum-transparency campaigner said to attain the status was not all as retaining that status would be a major challenge.
Acting head of the SLEITI Secretariat, Mira Horace, commended the country for attaining the status and attaining full EITI membership. She commended the office of the chief of staff, mining companies and the multi-stakeholders group for making sure the country fulfilled its EITI commitment.
State House Chief of Staff, Dr. Richard Conteh, admitted that as a government they were very much happy at "achievement" and hoped that all stakeholders would continue to work as a team to ensure the status was maintained.
He encouraged the group to start work immediately because they would be required to submit a Reconciliation Report by December this year. He however called on the group to continue working hard because by April 2017 Sierra Leone would be evaluated in accordance with EITI standards before the completion of the annual country report.
(C) Politico 01/05/14
