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Home Economy/Technology

NDDC seeks legislative intervention to recover N2trn funds

NDDC

The Matters Press by The Matters Press
November 30, 2023
Reading Time: 2 mins read
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NDDC moves to spur corporate governance structure

Abuja, Nov. 30, 2023: The Managing Director of the Niger Delta Development Commission (NDDC) Dr Sam Ogbuku has called for parliamentary intervention to recover the two trillion naira being owed the agency.

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Ogbuku made the plea during a public hearing organised by the House of Representatives Committee on NDDC in Abuja.

The managing director said that the sum is the accumulation of 15 per cent of allocations of the nine states that make up the region due to the commission since 2000.

Ogbuku also said that despite the passing of the 2021, 2022 and 2023 NDDC budgets, the commission was yet to get the funds till date.

“I want to raise an important issue; when we talk about funding, the NDDC Act says that the monthly allocation from the Federal Government, 15 per cent of the allocation for the nine states of the Niger Delta is for the commission.

“But I can assure you that since the inception of the NDDC, it has not gotten that, the Federal Government only allocate budgets for NDDC for the year and they give it that to the commission but form the 15 percent, we are not getting it.

“So, these are issues we want you to help us resolve and we have done our calculation that from 2000 till date, we can say we are being owed over N2 trillion from what is supposed to be due NDDC,” he said.

Ogbuku said that with the removal of fuel subsidy which resulted in increment of states allocation, NDDC is still where it is.

He said that as a result of huge debt burden of the commission, the NDDC launch a Public Private Partnership (PPP) arrangement in April to allow for private and public entities to fund projects in NDDC.

Responding, the Chairman of the Committee, Rep. Erhiatake Ibori-Suenu promised to look into the issues with a view to addressing them.

She said the committee would work with the board to change the narrative of the NDDC to improve the lives and conditions of the people of the region.

According to her, every member of the committee is committed and ready to carry out their mandate effectively.

“It is very important we create a platform for synergy in implementation of these policies and programmes for the general benefit of Nigerians and especially the people of the Niger Delta.

“I assure you that this committee is willing and ready to partner with you to make sure that the dividends of democracy are brought to the region and the narratives that had been set by the previous board are changed for the better.

“On this note I would want to seek your cooperation as a board and to ensure that every information we get from you is what we can work with as a committee and that everything we do henceforth is in the discharge of our duties to our people,” she said.

Ibori-Suenu said that the committee will investigate the factors responsible for the pending NDDC budgets and ensure they are released.

The Chairman of the NDDC Board, Mr Chiedu Ebie assured that the board would maintain the best of relationships with the committee and National Assembly.

He also promised that they would work as a team to ensure that the narrative of the commission is changed for the better.

Tags: NDDC
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