- NDDC Managing Director informs House Committee of over N2 trillion debt, 15% of unallocated funds since 2000, hindering operations
- Ogbuku seeks lawmakers’ intervention, emphasizes non-receipt of allocated funds, and urges collaborative efforts to address financial challenges
The Managing Director of the Niger Delta Development Commission (NDDC), Dr. Sam Ogbuku, revealed to the House of Representatives Committee on NDDC that the agency is burdened with an outstanding debt of over N2 trillion. This amount, according to Ogbuku, represents 15% of the allocation designated for the nine states constituting the Niger Delta region since 2000, which has never been disbursed.
Ogbuku emphasized that despite the passage of budgets for 2021, 2022, and 2023, the NDDC is yet to receive the corresponding funds. He urged lawmakers to intervene and help resolve the financial issues, highlighting that the substantial debt has impeded the agency’s operations.
The NDDC Managing Director pointed out that the NDDC Act stipulates a monthly allocation from the federal government equivalent to 15% of the allocation of the nine Niger Delta states. However, he noted that the agency has not received this allocation since its inception. Ogbuku clarified that the federal government only allocates funds based on its annual budget, leading to inconsistencies in meeting the NDDC’s financial needs.
Chiedu Ebie, Chairman of the NDDC Board, assured lawmakers of the commitment to maintaining a positive relationship and working collaboratively to improve the commission’s standing.
Committee Chairman Ibori-Suenu Erhiatake (PDP, Delta) pledged to address the concerns raised by the NDDC, emphasizing the importance of creating a platform for collaboration to implement policies and programs for the benefit of Nigerians, particularly those in the Niger Delta region.
Enugu State open for business, Governor Mbah tells investors
Governor Peter Mbah of Enugu State has said that his state is open for business and that the financial reforms implemented by the Tinubu administration are rubbing off positively on the state.
After a closed-door meeting with President Tinubu at the Aso Rock Villa in Abuja on Tuesday night, Mbah made the remarks.
“We are doing a lot, trying to attract investors to Enugu State,” Mbah said.
“And the fact that we now have the ease of investors bringing in their money and also being able to repatriate it as a result of the unification of the foreign exchange rates would largely rub off positively on Enugu State.”