Senate Committee insists on IOCs clearing their massive NDDC debts, totaling hundreds of billions

The Senate Committee on Niger Delta Development Commission (NDDC), under the leadership of Senator Ned Nwoko, is determined to recover the substantial debt owed to the commission by International Oil Companies (IOCs) operating in Nigeria. This financial obligation runs into hundreds of billions of dollars, and it represents a substantial source of revenue for the NDDC.

In an interview with InfoStride News, Senator Ned Nwoko emphasized the committee’s commitment to ensuring that these IOCs fulfill their financial obligations to the NDDC. The committee plans to take a multi-pronged approach to address this issue.

Senator Nwoko made it clear that they would invite the defaulting IOCs to appear before the committee for thorough investigations. The goal is to hold these companies accountable for their debts and to ensure that they adhere to their legal obligations in Nigeria. The senator stressed that they would not tolerate any compromise within the committee and would uphold the rule of law.

Furthermore, the Senate Committee on NDDC is unwavering in its commitment to the effective execution of projects by the commission. Senator Nwoko believes that it is essential to hold contractors accountable for delivering on their promises. Excuses will not be tolerated, and the committee is determined to make a significant impact on the lives of the people in the Niger Delta region.

Senator Nwoko expressed the view that the 10th Assembly and the Senate Committee on NDDC would operate differently from their predecessors. They are determined not to allow committee members to become substantive contractors, as has happened in the past. Oversight will be conducted rigorously and without fear of reproach, with a focus on proper procedures and accountability.

Additionally, if there is a need to allocate more funds to the NDDC through the budget, Senator Nwoko affirmed that the committee is ready to take the necessary steps to ensure that the commission has the resources required to fulfill its mandate.

In summary, the Senate Committee on NDDC, led by Senator Ned Nwoko, is resolute in its determination to recover the outstanding debts from IOCs, oversee the effective execution of projects, and make a positive impact on the lives of people in the Niger Delta region. Their commitment to upholding the rule of law and ensuring accountability is unwavering, and they are prepared to take the necessary measures to support the NDDC in its mission.