IOCs owing NDDC billions of dollars - Ned Nwoko


Sen Ned Nwoko says IOCs operating in Nigeria are owing NDDC hundreds of billions of dollars

A member of the Senate Committee on Niger Delta Development Commission (NDDC), Sen. Ned Nwoko (PDP-Delta North), has revealed that International Oil Companies (IOCs) operating in the country are owing NDDC  “hundreds of billions of dollars”.

The senator made the disclosure while speaking with the News Agency of Nigeria (NAN) in Abuja on Saturday.

He vowed that the senate committee would ensure that such companies paid their contributions to the coffers of the commission.

He said the committee would invite, investigate them and ensure they did what was right.

According to him, some of the IOCs are making their money in Nigeria, yet failing to make their contributions to the commission.

“We must also insist that they do that. They must do that. You know, they are owing hundreds of billions of dollars to NDDC coffers. So we will invite them, we will investigate them and we will make sure they do what is right.

“We don’t want to interfere with their works, but they have an obligation under the laws of Nigeria, they have obligation to host communities. They must deal with that.

“I don’t think any member of the committee on NDDC will be compromised because we will not accept it.”

He also said that the tenth assembly and the committee were poised to ensure effective project execution by the NDDC.

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“The work of the NDDC is well explained in the act establishing it; yes, this is the tenth assembly and we are different from the previous assemblies.

“And I know that it will not be business as usual, we have made it clear to members of the committee that they cannot turn to substantive contractors like we had in the previous assembly.

“If they must oversight properly and without fear of reproach, they must do things properly.

“The fact that there is enough budget or work to be done will make a difference in the lives of the people and that is important,” he said.

The lawmaker added that if there was a need to make more money available to the commission through budgetary allocation, that would be done.

He also expressed satisfaction with the composition of the current NDDC leadership put together by President Bola Tinubu, saying he had confidence in their capacity.

“They understand that this is a new era, and things will not be done like in the past where contractors are paid monies and they run away with it,” he said.

Nwoko stressed the need for all contractors to deliver on their undertakings, adding that there would be no excuses.

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