Chad's leap forward towards accountability of its minerals

In a world where corruption and a lack of transparency persists, governments, companies and civil societies combat such through creating and adopting standards.
Which created the Extractive Industries Transparency Initiative (EITI transparency standard), basically a global coalition of governments, companies and civil society aiming to improve openness and accountable management of revenues from natural resources.
Chad saw fit to utilize this transparency initiative as a tool towards creating a transparent government, and a reference point to determine  management of their oil, gas and mineral resources.Through the rigorous process of enabling a sustained commitment and leadership implementation of the EITI, the EITI International Board designated the country ‘EITI compliant’ in a meeting held in Myanmar this month.
Rt Honourable Clare Short, chair of the EITI noted that reaching compliance with the EITI requirements means that Chad is on the path towards open and accountable governance of its natural resources. “We look forward to working together to continue to strengthen governance of this crucial sector of Chad’s economy,” she further added.
Although Le Bemadjiel Djerassem, Minister of Hydrocarbon and Energy of Chad, admits that EITI is a first step on the long path towards managing natural resources for the benefit of its citizens, he believes that this transparency standard is a scorecard that assists them in identifying loopholes within their management systems.
For example, through EITI major reforms have been engaged when it comes to follow-up of revenue collection and payments from extractive industries, and thanks to the transparency initiative, they realized that they do not have an adequate system for tracking such revenues. Through such realization, they are now able to verify and publish reliable information about oil revenues.
Now that Chad is compliant with the global EITI transparency standard, citizens of the country has access to extensive information on the manner in which their natural resources are governed. Industry, government and civil society in the country will now be acting jointly to inform the debate about the accountability, and management around its oil, gas and mineral resources.