*N2.41trn came in first six months of this year *N2.92trn in 2019 Ike Amos Abuja — Nigeria earned N2.405 trillion…
Browsing: Niger Delta Development Commission
Lucky Omas 31 January 2019, Sweetcrude, Warri, Delta State — EX-militants and other stakeholders in the Niger Delta region have…
*As NDDC commences training for Ogoni cleanup OpeOluwani Akintayo 27 May 2018 Sweetcrude, Lagos — Over 5000 impacted oil spill…
“We call on President Buhari to channel the funds that had been set aside to grant Boko Haram amnesty to adequately fund these ministries to avert these predictions and save the lives of the inhabitants of these communities.”
Dr. Baru said the major complaint by operators in the industry was that of multiple taxation which include statutory contributions to the Niger Delta Development Commission (NDDC) and Nigerian Content Development and Monitoring Board (NCDMB) as well as sundry expenses on security.
The federal government in November 2017 disclosed that it was considering granting 13 operational licences for modular refineries in the Delta region. It also has, as part of its policy to revive the country’s oil sector, the Seven Big Wins, plans to incentivise the construction of modular refineries in the region.
He pointed out that the establishment of the refineries was significant as they were certain to tremendously boost fuel supply in the country with their capacity to refine 300,000 barrels of crude oil per day.
“The advanced stage of development means that these projects have passed the Licence to Establish stage, while some have the Authority to Construct licence or close to having it because they have met some critical requirements in the licensed stage.”
The Act includes the gas producing and gas processing companies in the list of agencies that are contributing to the Niger Delta Development Commission (NDDC) in addition to the Oil companies in a bid to increase funding of the Commission for effective discharge of its duties.
The report also noted that 90 million dollars was lost through a practice where NNPC used a revised/lower pricing option at the point of payment instead of the higher price at the point of purchase.
