N' Assembly summons 17 oil companies over N72 b, $273m debts to NDDC

THE National  Assembly Joint  Committee on Niger Delta Affairs, on Tuesday flayed  oil companies for not paying the debt owed   the Niger Delta Development Commission, NDDC  which is to the tune of  N72bn and $273m.

The National Assembly recalled efforts by the 8th Assembly to ensure the prompt payment of money meant for the NDDC, and accused the oil companies of not disclosing their real budget saying most of the firms tampered with their annual budgets.

Sequel to this, the Senate has resolved to carry out a full audit of NDDC, just as it welcomed plans by the Federal Government to carry out a forensic audit on NDDC.
The National  Assembly Joint  Committee on Niger Delta Affairs has also summoned 17 oil companies that are allegedly involved in this ugly act.

At an interactive session with officials of the  NDDC, Central Bank of Nigeria and Union Bank, Chairman of the NASS joint panel, Senator Peter Nwaoboshi, Peoples Democratic Party, PDP, Delta North warned that such acts will not be to tolerated.

He said that  the oil firms have failed to remit the statutory three per cent of their annual budgets to the agency.  
Nwaoboshi said oil companies were  expected to appear before the joint committee by next week Wednesday, just as he said  that the companies were being invited to explain to lawmakers why they were not obeying the law.

Senator Nwaoboshi who explained that the last time calculation was done, the Nigerian Petroleum Development Corporation owed N54bn, Allied oil owed $43m while Pan Ocean owed $46m, however  revealed that the Federal government owed the  NDDC over N1tn.

According to him,,  “We  have invited  oil companies that are indebted to the NDDC to come and tell lawmakers why they would  not obey the laws of the country. Some of them have confirmed that they owed the NDDC. The   Nigeria Petroleum Development Company, NPDC is owing N54b as at when the last calculation was done, Allied is owing $43 m, Pan Ocean is owing $46m.

“Some of the oil companies involved are Shebah Express Petroleum, Atlas Petroleum, Allied Energy, Frontier Oil, Seven Energy Limited, Belma Oil Producing Limited, AITECO Exploration and Production, Dubri Oil, Conoil Producing, Continental Oil and Gas.

“Others are  Enageed Resources Limited, New Cross Exploration, and Production, Pan Ocean Oil Corporation Nigeria Limited, Nigeria Petroleum Development Resources. Munipulo Petroleum Development Company, Prime Exploration and Production Company, and Nigeria LNG Limited.”

Nwaoboshi said that the companies  have been  invited to explain  to the lawmakers why they were  not obeying the law as enshrined in the NDDC Act.  "We  have invited all oil companies indebted to NDDC to come and tell lawmakers why they will not obey the law of the country. Some of the have confirmed that they owing NDDC," he said. According to him,  NPDC is owing N54b as at when the last calculation was done, Allied is owing $43 m, Pan Ocean is owing $46m.