39 Shares 373 Views

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

Nov 29, 2017
39 374

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.

 

 

 

Facebook Comments

You may be interested

Lagos APC bans chair, others from re-election
Politics
0 shares29 views

Lagos APC bans chair, others from re-election

TheCalendar - Apr 25, 2018

  THE Lagos State All Progressives Congress (APC) has banned its chairman, Chief Henry Ajomale, members of the state executive council, wards and…

Buhari backs Oshiomhole for APC national chairman, as 24 governors support PMB 2nd Term Bid
Cover Stories, Politics
0 shares44 views

Buhari backs Oshiomhole for APC national chairman, as 24 governors support PMB 2nd Term Bid

TheCalendar - Apr 25, 2018

  24 governors support President’s second term bid, says Okorocha Former Edo State Governor Adams Oshiomhole looks set to become the next national…

South-South APC endorses Adams Oshiomhole for position of National Chairman
Cover Stories, Politics
12 shares255 views

South-South APC endorses Adams Oshiomhole for position of National Chairman

TheCalendar - Apr 23, 2018

      April 23, 2018 | Benin Hours after the Edo State caucus of the All Progressives Congress (APC) unanimously endorsed the…

Leave a Comment

Your email address will not be published.

Most from this category