Public Disclosure Copy The World Bank Implementation Status & Results Report NEITI Reporting Compliance (P162344) NEITI Reporting Compliance (P162344) AFRICA | Nigeria | Energy & Extractives Global Practice | Recipient Executed Activities | Investment Project Financing | FY 2017 | Seq No: 3 | ARCHIVED on 26-Jul-2019 | ISR38021 | Implementing Agencies: Federal Ministry of Finance, NEITI Key Dates Key Project Dates Bank Approval Date:07-Dec-2016 Effectiveness Date:09-Dec-2016 Original Closing Date:30-Apr-2020 Revised Closing Date:30-Apr-2020 Project Development Objectives Project Development Objective (from Project Appraisal Document) The project development objective is to assist Nigeria in meeting the EITI requirement for data timeliness. Has the Project Development Objective been changed since Board Approval of the Project Objective? No PHRPDODEL Components Name Overall Ratings Name Previous Rating Current Rating Progress towards achievement of PDO  Satisfactory  Satisfactory Overall Implementation Progress (IP)  Satisfactory  Satisfactory Implementation Status and Key Decisions This project contributed to NEITI attaining satisfactory progress or beyond satisfactory ratings in the 33 requirements set forth in the EITI Standard in the second validation finalized in February 2019. The World Bank and the EITI International Secretariat held a joint mission prior to the start of the second validation to discuss how NEITI can address the shortcomings stated in the first validation. 7/26/2019 Page 1 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report NEITI Reporting Compliance (P162344) Risks Overall Risk Rating Risk Category Rating at Approval Previous Rating Current Rating Overall  --  Moderate  Moderate Results Project Development Objective Indicators PHINDPDOTBL Timeliness of reconciliation report publications (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target No further validation Satisfactory Value Meaningful progress Satisfactory progress since Oct 2016 progress Date 11-Oct-2016 15-May-2018 27-Feb-2019 30-Apr-2020 Overall Comments On February 27, 2019, in its second validation report, the EITI Board awarded NEITI a satisfactory rating in all categories except in-kind revenue reporting and public debate, for which the validation committee judged NEITI to have gone "beyond" the requirements. For data timeliness, the assessment was upgraded from meaningful progress in the first validation to satisfactory progress in the second validation. Nigeria became the first Anglophone African country to have made satisfactory progress or higher in implementing all the requirements of the EITI Standard. Intermediate Results Indicators PHINDIRITBL NEITI report production (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target Reports Reports not published Report published within Report published within published Value within two years 2 years. 2 years. within 18 months Date 31-Oct-2016 29-Dec-2017 29-Dec-2017 30-Jun-2021 7/26/2019 Page 2 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report NEITI Reporting Compliance (P162344) PHINDIRITBL E-reporting of contextual information for oil and gas (Text, Custom) Baseline Actual (Previous) Actual (Current) End Target E-reporting of contextual information (legal, regulatory, contractual, No e-reporting of E-reporting of E-reporting of contextual and fiscal Value contextual information contextual information information frameworks; sector structure and ownership patterns) on NEITI's website or other websites Date 01-Dec-2016 15-May-2018 15-May-2018 01-Jul-2019 Overall Comments NEITI continues to experience delays in the release of its capital budget under which its industry revenue reconciliation reports are funded. The problem is that NEITI does not know until close to the end of the fiscal year (typically November) how much of its capital budget it will eventually get in full, while NEITI cannot sign a contract for an independent administrator until the budget is passed and signed. This has led to a delay in signing the contract, thereby substantially delaying the start of revenue reconciliation. The 2017 reporting is the first one for which NEITI was able to sign the contract during the first half of the year in which the report is due. The 2018 reporting will be the first one for which NEITI will sign the contract in the year before the deadline year, namely 2019 instead of 2020. The target date for publishing the annual report within 18 months has therefore been postponed. NEITI issued an e-publication on production sharing contracts (PSCs) in March 2019, covering the issue being tabled in the National Assembly as well as the Ministry of Petroleum Resources concerning fiscal terms in PSCs that can be adjusted once the price of oil exceeds $20 per barrel in 1993 U.S. dollars. NEITI in the same month also issued an e-publication on how to avert illicit financial flows in the extractive industries in Nigeria. Since late 2017, NEITI has been posting on its website a quarterly report analyzing revenue disbursements. Going forward, NEITI will issue more e-publications directly relevant to the topics most intensely debated at a given time, similar to the one on PSCs. Data on Financial Performance Disbursements (by loan) Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed Disbursed P162344 TF-A4025 Effective USD 0.59 0.59 0.00 0.59 0.00 100% P162344 TF-A6634 Effective USD 0.29 0.29 0.00 0.06 0.22 22% Key Dates (by loan) Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date 7/26/2019 Page 3 of 4 Public Disclosure Copy Public Disclosure Copy The World Bank Implementation Status & Results Report NEITI Reporting Compliance (P162344) P162344 TF-A4025 Effective 07-Dec-2016 09-Dec-2016 09-Dec-2016 31-Dec-2017 30-Apr-2020 P162344 TF-A6634 Effective 06-Feb-2018 02-May-2018 02-May-2018 30-Apr-2020 30-Apr-2020 Cumulative Disbursements Restructuring History Level 2 Approved on 27-Jun-2017 ,Level 2 Approved on 06-Feb-2018 Related Project(s) There are no related projects. 7/26/2019 Page 4 of 4 Public Disclosure Copy