NDDC Gives Account Of Fundings, Assures Improved Corporate Governance, Seeks For Partnerships

The Niger Delta Development Commission (NDDC) has revealed that it has received a total sum of N2.5 trillion from inception till date not withstanding that it had awarded contracts worth over N5.2 trillion.

Giving further statistics, the Commission disclosed that it has executed over 5025Km length of roads and 42 bridges with one of them having 600 metres long.

In addition, a total of 7000 projects worth over N1.662 trillion had been completed while 3000 projects are ongoing.

The NDDC Managing Director/CEO, Dr. Samuel Ogbuku who affirmed the statistics as presented by the Director/Chairman, PPP Committee, Dr. Emmanuel Audu-Ohwavborua, assured participants at a one-day policy dialogue with development partners and donor agencies of safety of the investments and funds deployed in the Niger Delta region.

The event with the theme: “Deepening Governance through transparency and value-added partnership” was organised Thursday by the Ministry of the Niger Delta Affairs in collaboration with the NDDC. The objective was to lay bare the abundant investment opportunities in the Niger Delta region and to solicit for Investments as well as Public Private Partnership (PPP) from development partners and donor agencies.

In a presentation, the Commission revealed that its dream project include renewable energy projects worth over N200 billion and a Niger Delta Region Power Pool project which will include at least 15 power stations and transmission stations so as to stimulate more socioeconomic and industrial activities in the region.

Further, is the construction of East-West Coastal Road which will cut across the region beginning from Odunkpani in Cross River state and terminates at Ibeju-Lekki, Lagos state with 160 bridges spread along the length to enhance transportation.

The NDDC Managing Director, Dr.  Ogbuku assured that the management is changing the narrative of how things were done in the past to emphasize corporate governance and transparency which informed why the Commission engaged the services of KPMG so as to leverage finance from development partners.

According to him, “We have invited KPMG to come and strengthen our corporate governance administration. This is to assure you that if you bring any business to us, it will be judiciously done. We are here and ready to partner with you. We are open to international best practices and this is a dawn of a new beginning. Whatever transactions you’re going to have with us, we can assure you that it will be very safe”.

The event was attended by development partners, donor agencies and private investors.