EITI, which promotes public awareness about how countries manage oil, gas and mineral resources, lauded the West African nation as being "key in shaping the global development".

Alex Gordy, EITI country manager, said that out of 51 countries, Nigeria has been one of the first to implement EITI standards across the entire value chain of the oil and gas industry.

Nigerian National Petroleum Corporation (NNPC) managing director, Maikanti Kachalia Baru said: "We have been interacting a lot with NEITI, EITI's Nigerian arm, and in those engagements we have been very co-operative in providing the necessary information.