NDDC on life support over IOCs’ $5.6b debt — Akpabio cries out

The Minister of Niger Delta Affairs, Godswill Akpabio on Thursday said the Niger Delta Development Commission (NDDC) is on life support due to huge debt owed to the agency by oil companies.

He said the commission can barely pay staff salaries and put the debt at $5.6 billion and N649 billion.

Akpabio spoke to reporters after he received the Nigerian Permanent Representative to the United Nations, Tijani Muhammad-Bande in his office in Abuja.

He said the Federal Government has set up a committee headed by the Minister of Finance to recover debt.

“The Federal Government has set up a committee headed by the Minister of Finance to recover monies that were owed to the NDDC. At the last count, about $5.6 billion and about N649 billion are monies owed to the NDDC by oil companies.

“So, the NDDC itself is on life support because what they get every month is just enough to pay their salaries and maintain their offices but people are not aware,” he said.

(The Nation)