The Niger Delta Development Commission, NDDC, has once again debunked news and allegations of missing funds, saying that only N33billion has been paid to its vendors since the inception of the expanded Interim Management Committee, IMC.
Mr Charles Obi Odili, NDDC Director, Corporate Affairs, said that the N33billion was just a very little part of a debt portfolio of about N2trillion.
Odili said the historical debts, which have been settled to a large extent, included the Commission’s obligations to those who do supplies and render services, like hotels and other things to keep the organisation running.
He explained that the National Assembly has placed an embargo on the Commission not to pay contractors for road projects, adding that most of the contractual obligations owed to its contractors were majorly road projects.
“The Commission has paid what we describe as historical debts amounting to about N33billion from the inception of the expanded IMC on February 20, 2020. The historical debts cover debts to our vendors; some persons who have been owed between N1 million and N3 million, some for over seven or eight years.
“The essence is to save lives and livelihoods of the Niger Delta people because some people borrowed money from banks to do little supplies and some of them got very ill and were in the hospitals and there was nothing that the IMC could have done but to assuage to this very humane issue and I think that any compassionate person anywhere in the world will do same.
“The National Assembly has instructed us not to pay for road projects and most of the contractual obligations we owe to our contractors who are complaining are those who have done majorly road projects. So, we have an instruction from the National Assembly not to pay and we are abiding by this instruction. When it is lifted, all our contractors, especially those who have done road jobs will get their payments.
“The Commission has a debt portfolio of about N2 trillion. So, when people say that we have paid so much they do not know that we have just paid very little from the avalanche of debts that we owe as an organisation and sincerely no organisation will want to be in a situation like this.”
“A large percentage of the N2 trillion has to do with emergency projects. When the budget doesn’t come on time as at when due, some managements have taken recourse to this line of action to solve an emergency and often times because the budget is not available, the emergency often runs for a long time and this is rather unfortunate. It is not a thing that we are continuing with. But we are dealing with it as something that happened in the past.
“Once that is done a lot of things, a lot of actions will be expedited. Where there is a lack of unanimity of purpose, as we have seen in recent times, the Niger Delta region suffers for it.