FG, oil companies owing NDDC over N4 trillion - Interim Administrator

  The Niger Delta Development Commission (NDDC), has disclosed that the Federal Government is indebted to the commission to the tune of over...


 

The Niger Delta Development Commission (NDDC), has disclosed that the Federal Government is indebted to the commission to the tune of over N1.9 trillion.

Interim Administrator of the Commission, Mr. Effiong Akwa, who spoke with journalists on Wednesday also oil companies are owing the commission about N2.2 trillion.

Akwa made the disclosure while reacting to claims by contractors who said the commission was owing them.

There are reports that the commission is currently owing some of the contractors who executed some projects in the region.

But, the interim administrator, Effiong Akwa in his reaction, said the commission could not pay the contractors due to trillions of naira owed the commission by the federal government and oil companies.

Akwa who pledged to settle all verified outstanding claims by the contractors remarked that this would be done as soon as the commission reconciled its account.

He added that he was saddened that contractors who had done their jobs were still being owed many years after completion.

He spoke further by saying that he regretted the closure of NDDC headquarters by aggrieved contractors.

He also declared that the bulk of the indebtedness was inherited from past administrations in the commission.

Awka said, “The Interim Administrator is not happy that contractors who had completed their jobs were yet to be paid. There is no reason to owe these contractors except the fact that enough funds have not been released to NDDC to take care of the debt.

“Federal Government was owing the Commission over N1.9 trillion, while the oil companies owed in excess of $4billion (about N2.2 trillion). This huge indebtedness to NDDC is far in excess of what the Commission owes its contractors and has exposed us to this kind of situation”.

Akwa while speaking further, maintained that President Muhammadu Buhari had set up a reconciliation committee headed by the Minister of Finance to determine how much is owed NDDC and reconcile the accounts.

“The Interim Administrator is working tirelessly to pay outstanding debts and calls for calm and patience from all aggrieved contractors and service providers.”

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Saga Gist - Top Source for Nigeria News: FG, oil companies owing NDDC over N4 trillion - Interim Administrator
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