The Nigeria Liquefied Natural Gas (NLNG) Limited will soon be obliged to contribute in the funding of the Niger Delta Development Commission (NDDC).
The Bill sponsored by the House Minority Leader, Leo Ogor, is entitled: “Bill for an Act to Amend the Nigerian Liquefied Natural Gas (LNG (Fiscal Incentives, Guaranteed and Assurances) Act, Cap. N87, Laws of the Federation of Nigeria, 2004 to empower the Nigerian LNG Ltd to make its Statutory Contributions to the NDDC Fund and for Other Matters Connected Therewith.”
The NDDC Establishment Act, specifically section 14 (2)(b) stipulates that three percent of the total annual budget of any oil producing company operating onshore and offshore in the Niger Delta area, including gas processing companies like NLNG, shall be paid into the Funds of the Niger Delta Development Commission.
Ogor noted that apparently the NLNG Limited has not contributed a kobo to the NDDC fund as required by the NDDC Act, 2000 for about 27 years of its operation in the region, despite the huge earnings it has made.
He further stated that the Bill also seeks to prevent a total degradation of the oil-rich Niger Delta region whose environment has extensively been depleted due to oil exploration over the years.
