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BREAKING! New Amendment to NDDC ACT Compels Oil Companies to Contribute to Funding NDDC

Nov 29, 2017
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BREAKING! New Amendment to NDDC ACT Compels Oil Companies to Contribute to Funding NDDC

 

November 29, 2017 | Abuja | TheCalendar

 

 

An amendment has been made to the NDDC Act today by the Senate of Federal Republic

 

This milestone will provide more funding for the development of the Niger Delta by gas companies who before now, never contributed to the commission.

 

Once it becomes law, gas companies must ensure full compliance.

 

Hitherto, oil companies operating in the region have not been contributing to funding the Commission. Once this amendment becomes a law, IOCs will be mandated by law to pay certain percentage of revenues derived from oil activities in the region to the NDDC.

 

With more funds coming from oil and gas companies in the #NDDC region, ecology can be well tackled and environmental problems that arise from the exploration of oil mineral in the Niger Delta region will also be fully addressed.

 

The Senate President, Dr  Bukola Saraki has said: “ the amendment of this bill will bring more funds to the NDDC.

 

 

 

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