Senator Godswill Akpabio says oil firms operating in the Niger Delta have defaulted in their statutory remittances to the Niger Delta Development Commission (NDDC) to the tune of $4 billion.
Akpabio, who is the Minister of Niger Delta Affairs, made the claim on Thursday at the weekly ministerial briefing held at the State House in Abuja.
He noted that oil firms operating in the area are expected to provide three percent of their annual budgets to the commission, but none has complied with this.
Akpabio stressed that the Ministry of Niger Delta will take a keen interest in the implementation of the three percent Petroleum Industry Act (PIA) compensation to host communities.
The former Akwa Ibom governor also stated that the NDDC owes contractors three ₦3 trillion. He, however, explained that not all awarded contracts with costs can be regarded as debt.