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NDDC allegedly receives $3.2 billion from 7 oil companies in 5-years

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NDDC allegedly receives $3.2 billion from 7 oil companies in 5-years

By Matthew Eloyi

A total of seven oil companies operating in the Niger Delta have allegedly remitted over $3.2 billion to the Niger Delta Development Commission (NDDC) between 2014 and 2019.

Programme Officer, Energy, Extractives And Climate Justice, Policy Alert Organization, Mr Mfon Gabriel made the allegation in Asaba during a workshop for journalists on the Extractive Sector.

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Mfon pointed out that the money represented three percent of the annual budget of these companies which is mandatory for them to remit according to the NDDC Act that stipulates that oil and gas companies operating in the Niger Delta must remit such.

He revealed that the statistics were received from the Nigeria Extractive Industry Transparency Initiative (NEITI) which is in the business of ensuring accountability in the extractive industry.

While wondering how such money could not impact the region, Mfon said it was disappointing to see the region in a terrible state of neglect over the years despite the huge amount of money that has accrued to NDDC.

He revealed further that the money could be more because the $3.2 billion represented what only seven companies paid to the NDDC.

The seven companies according to him include Shell, Chevron, Exxon Mobil, Total, and others.

NDDC allegedly receives $3.2 billion from 7 oil companies in 5-years

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