Senate panel probes alleged $71.65m, N30.7bn unpaid oil firms’ contributions to NDDC

Nigeria's Senate Committee on the Niger Delta Development Commission (NDDC) has launched an investigation into claims that international oil companies have failed to remit their legally mandated contributions. The probe follows a petition from environmental activist Mathew Echo, who alleges that Aiteo Exploration and Production Company Limited, now Nembe Exploration and Production Company Limited, owes the NDDC a staggering $71.65 million and N30.7 billion since 2021.

During a hearing, committee chairman Asuquo Ekpenyong assured stakeholders of a thorough investigation and directed Aiteo Exploration and Production Company Limited to appear before the committee within two weeks. He also mandated the NDDC to provide a comprehensive list of all oil companies that have defaulted on their statutory contributions and details of recovery efforts.

The NDDC, established in 2000, aims to address developmental challenges in Nigeria's oil-producing Niger Delta region. This region, comprising nine states, faces environmental degradation and poverty despite its significant contribution to the nation's oil wealth. The commission is funded by federal allocations, oil company contributions, ecological funds, and grants, with oil companies legally required to contribute 3% of their annual operating budgets.

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The lawmakers would thoroughly investigate the allegations and engage all parties involved.