The 2nd EITI Report will be formally launched and released by the LEITI Multi-Stakeholders Group (MSG) on Thursday February 18, 2010 at 11: A.M. in the conference room of the LEITI Secretariat on the fourth floor of the Ministry of Finance Building. The publication will be followed by massive dissemination via print and electronic media, including the internet and also by way of extensive public outreach throughout the fifteen counties of Liberia.
The Government of Liberia joined the Extractive Industries Transparency Initiative (EITI) process in September 2007, and published its first report on February 9, 2009 for the period July 1, 2007 up to and including June 30, 2008. The first EITI Report of Liberia contained payments data supplied by thirty (30) companies and revenues data supplied by four (4) agencies of Government. Liberia undertook validation (EITI quality assurance mechanism) and became the first country in Africa and the second in the World to become EITI compliant in October 2009.
The LEITI is established by an Act of the Legislature as a partnership involving the Government, the Private Sector and the Civil Society of Liberia, which is supported by Liberia’s Development partners. The LEITI seeks to ensure transparency over payments to, and revenues received by, the Government of Liberia in connection with the operations of all oil, mining, logging and Agriculture companies operating in Liberia. The work of the LEITI consists of regular disclosure, audit/reconciliation, and publication of both (1) all material payments made by oil, mining and logging companies (“Companies”) to the Government, and (2) all material revenues received by the Government from the above-mentioned companies. A critical component of the LEITI work program is the comprehensive and reliable reconciliation and/or audit of the payment and revenue data provided or to be provided by both the Companies and the Government. The LEITI process also calls for massive and public dissemination of the EITI report.