Friday, 8 April 2016

Niger Delta Development: Senate Faults Defaulting Oil Companies

Nigeria’s Senate has threatened to do whatever is necessary to ensure that oil companies remit the statutory 3% of their budget to the Niger Delta Development Commission (NDDC) as contained in the NDDC Act. Federal Lawmakers, at a meeting of the Committee on Niger Delta on Thursday with officials from several oil companies in Nigeria, expressed displeasure that some of the companies failed to remit the statutory contribution to the NDDC. They also queried why they have also refused to disclose their budgets to the NDDC. A member of the Committee, Senator Jubrin Barau, said the failure of the companies to obey the law was hampering the development of the region.