Fears as Oil companies owe Niger Delta $4billion

By Sola Omoniyi, Lagos

It was an interesting day in the Green Chambers on Wednesday, 26th July, 2023, as Hon. Donald Ojogo, member representing Ilaje/Ese-Odo Federal Constituency moved a motion compelling all International Oil Companies IOCs operating in the Niger-Delta to comply with the Niger Delta Development Commission, NDDC Act.

While moving the motion, Hon. Ojogo noted that the establishment of the NDDC Act, 2000 was in response to the heightened agitations and violent yearnings of the nine oil producing states which make up the Niger-Delta as enshrined in section 2 (1) of the NDDC Act.

He maintained that the provisions of section 14 (1a,b,c and d) which mandates the federal government and international oil companies operating in the region to certain percentage of their total budget into the funds account of NDDC.

Whilst the federal government has continued to fulfil its part, International Oil Companies have flagrantly subjected section 14 (1b) to distasteful neglect and reckless abandonment, thereby leading to oil companies being seriously indebted to NDDC to the tune of $4billion dollars.

Unfortunately, Economic and Financial Crimes Commission EFCC which was drafted to handle the recovery process had continued to hold on to all monies recovered without remitting same to the NDDC for the commission to meet its obligations.

The House accordingly,  mandated the House Standing Committee on NDDC to probe the level of indebtedness and the role of the EFCC in the recovery process.

However, the Motion was seconded by Hon. Adamu Hashimu Ranga, Ningi/Warzi Federal Constituency of Bauchi State.