The House of Representatives has commenced a probe into oil companies following a $4 billion indebtedness to the Niger Delta.
According to reports, the move followed the adoption of a motion by the member representing Ilaje/Ese-Odo Constituency, Donald Ojogo on Wednesday.
Ojogo’s motion sought for the compelling of all International Oil Companies IOCs operating in the region to comply with the Niger Delta Development Commission Act.
Ojogo also noted that “the establishment of the NDDC Act, 2000 was in response to the heightened agitations and violent yearnings of the 9 oil producing states that make up the Niger-Delta as enshrined in section 2 (1) of the NDDC Act.”
The lawmaker also pointed out “the provisions of section 14 (1a,b,c and d) which mandates the federal government and international oil companies operating in the region to deposit a certain percentage of their total budget into the funds account of NDDC.
“While the federal government has continued to fulfil their part, oil companies have flagrantly subjected section 14 (1b) to distasteful neglect and reckless abandonment thereby leading NDDC into serious indebtedness to the tune of about $4billion dollars by the IOCs.
“Unfortunately, the Economic and Financial Crimes Commission, which was drafted to handle the recovery process has continued to hold on to all monies recovered without remitting same to the NDDC for the commission to meet it’s obligation.”
The motion was seconded by Hon. Adamu Hashimu Ranga, Ningi/Warzi Federal Constituency of Bauchi State.
From the House, the Speaker, Tajudeen Abbas subsequently mandated the House Standing Committee on NDDC to probe the level of indebtedness and the role of the EFCC in the recovery process.
(Daily Report)