Seventy-seven oil and gas companies operating in Nigeria have debt obligations of N2.6 trillion to the federal government.
“We approved over N865 billion and this year’s budget, I know we have close to about N1 trillion, and we are getting little in terms of the outcome.”
The report reveals how 13,777 contracts awarded were abandoned despite the six trillion naira the commission received in budgetary allocations.
The issues have always been with us but the solutions have never been available.
Godswill Akpabio, Minister of Niger Delta Affairs, says the final report of the forensic audit of Niger Delta Development Commission (NDDC) will be ready in July.
“The state does not have reasonable allocation. We are not part of the 18 per cent derivation.”
Minister Akpabio said the funding system of the commission was poor because budgetary provisions were staggered.
The review is part of the many changes that would happen in NDDC, the minister said.
The youths are protesting the appointment of a sole administrator for the NDDC
Director of projects is lavishing suspected public funds amidst a raging corruption probe of Niger Delta Development Commission.
