Interim Administrator of the Niger Delta Development Commission (NDDC), Mr. Effiong Akwa, has disclosed that the Federal Government and oil companies are indebted to the commission to the tune of over N2.2 trillion.
Akwa who spoke with journalists on Wednesday made the disclosure while reacting to claims by contractors who said the commission was owing them.
According to him: “The Interim Administrator is not happy that contractors who had completed their jobs were yet to be paid. There is no reason to owe these contractors except the fact that enough funds have not been released to NDDC to take care of the debt.
“Federal Government was owing the Commission over N1.9 trillion, while the oil companies owed in excess of $4billion (about N2.2 trillion). This huge indebtedness to NDDC is far in excess of what the Commission owes its contractors and has exposed us to this kind of situation”.
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He added: “The Interim Administrator is working tirelessly to pay outstanding debts and calls for calm and patience from all aggrieved contractors and service providers.”
