The Senate Committee on the Niger Delta Development Commission (NDDC) is determined to ensure that International Oil Companies (IOCs) operating in Nigeria fulfill their financial commitments to the commission. Senator Ned Nwoko, a member of the Senate Committee on NDDC and representing Delta North, disclosed this during an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.
According to News Agency of Nigeria, the IOCs owe the NDDC hundreds of billions of dollars. The committee plans to take a firm stance by inviting and investigating these companies to ensure compliance with their financial obligations. Nwoko highlighted the discrepancy between the profits made by some IOCs in Nigeria and their failure to contribute to the commission as required by Nigerian law.
Nwoko emphasized the committee’s dedication to overseeing the NDDC’s projects effectively and transparently. He mentioned that the approach of the tenth assembly and the committee would differ from previous assemblies, with a focus on avoiding conflicts of interest and ensuring contractors fulfill their obligations.
The senator also addressed the budgetary needs of the NDDC, asserting that if necessary, additional funds would be allocated to the commission. He expressed his confidence in the current NDDC leadership appointed by President Bola Tinubu, noting their understanding of the new expectations and the necessity for a different approach compared to the past, particularly concerning contractor accountability.
Nwoko reiterated the committee’s commitment to holding contractors accountable and ensuring the successful completion of their projects. He stated that there would be no tolerance for excuses and emphasized the need for tangible results in project delivery.
This proactive stance by the Senate Committee on NDDC represents a significant step towards ensuring that the resources necessary for the development of the Niger Delta region are adequately secured and utilized.