The Minister of Niger Delta Affairs, Senator Godswill Akpabio, has accused all international oil companies operating in the country of being indebted to the Niger Delta Development Commission to the tune of $4 billion.
Akpabio, who spoke yesterday, at the weekly ministerial press briefing organised by the Presidential Communications Team at the State House, Abuja, said the IOCs who are required to deposit three per cent of their annual budgets to the commission as their statutory contribution to its funding have failed to do so for several years.
According to him, the debt profile of the 21-year old NDDC stands at over N3 trillion, adding that no significant project executed by the Commission matched the figure. His words: “I haven’t seen any major thing that has touched the lives of the people in the region done by the NDDC. We are still searching for the project they have done. The money given to the NDDC has not been utilised well.“We have a commitment in the excess of N3 trillion. The forensic audit will clarify these things”.
He, however, said the Ministry of Niger Delta Affairs, as the ministry charged with the welfare of the people, would get in touch with the community trusts that would manage the funds and get them to properly focus the appropriations. “But now with the PIA, they would be able to do certain things for themselves without waiting on oil companies, the federal government or the state to do it for them.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Source: Daily Trust - 🏆 13. / 51 Read more »
Source: MobilePunch - 🏆 8. / 63 Read more »
Source: GuardianNigeria - 🏆 1. / 94 Read more »