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International oil firms owe NDDC $4bn – Akpabio



The Minister of Niger Delta Affairs, Godswill Akpabio, said on Thursday the International Oil Companies (IOCs) operating in Nigeria owe the Niger Delta Development Commission (NDDC) over $4 billion.

The minister disclosed this at the weekly ministerial briefing organised by the Presidential Communication Team at the Presidential Villa, Abuja.

He added that none of the IOCs had made the 3 percent statutory contribution from their annual budgets to the commission.

Akpabio said: “All the international oil companies operating in Nigeria are owing the NDDC and efforts are ongoing to recoup the money.

READ ALSO: Akpabio leads delegation to beg fugitive, Tompolo, over crisis around NDDC board

On his part, the Minister of State for Niger Delta Affairs, Tayo Alasoadura, said the debt had been accumulating over a long period but did not disclose the companies owing the commission.

“International oil companies are expected to pay 3 percent of their annual budget to NDDC as their major income but they have been defaulting for a long period.

“Efforts are being made to get the outstanding payments which are up to $4 billion from them. All of them are owing,” Alasoadura said.

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