The Senate Committee on the Niger Delta Development Commission (NDDC) has pledged to ensure that International Oil Companies (IOCs) operating in Nigeria fulfill their financial obligations to the commission. Speaking to the News Agency of Nigeria (NAN) in Abuja on Sunday, Senator Ned Nwoko, a member of the Senate Committee on NDDC, emphasized the importance of the IOCs’ contributions to the NDDC’s financial stability.
According to Senator Nwoko, the IOCs owe the NDDC hundreds of billions of dollars, and the committee is determined to hold them accountable by inviting them for investigation and compelling them to meet their financial commitments.
“Several IOCs are operating profitably in Nigeria, yet they have not fulfilled their obligations to the commission,” Senator Nwoko stated. “We will insist that they do so because they owe the NDDC significant sums of money. We will invite them, investigate their financial responsibilities, and ensure they comply with the law.”
He added, “We do not intend to interfere with their operations, but they have a legal obligation to the host communities, and they must fulfill that obligation. I am confident that none of our committee members will compromise on this matter, and we will not tolerate any compromise.”
Senator Nwoko further highlighted the commitment of the current tenth assembly and the committee to ensuring effective project execution by the NDDC. He noted that the NDDC’s mandate is clearly defined in the legislation establishing it, and this assembly is dedicated to a different approach compared to its predecessors.
“In this assembly, we will not allow committee members to engage in practices where they become substantial contractors as we witnessed in previous assemblies,” Senator Nwoko affirmed. “We have made it clear that to oversee the NDDC effectively and without any fear of retribution, they must follow proper procedures.”
He also stressed that if additional budgetary allocations are necessary to support the commission, the assembly is prepared to make those funds available.
Senator Nwoko expressed confidence in the current leadership of the NDDC, which was assembled by President Bola Tinubu. He described it as a new era where transparency and accountability are paramount.
“They understand that this is a new era, and things will not be done like in the past where contractors were paid and disappeared,” Senator Nwoko noted.
The senator concluded by emphasizing the importance of all contractors meeting their commitments without excuses, demonstrating the committee’s unwavering commitment to ensuring the success of NDDC projects and, ultimately, the well-being of the people.
