The Niger Delta Development Commission, NDDC, on Friday, March 6, revealed that the Federal Government was owing it N700 billion.
According to the commission, the debt was accumulated during the administration of former President Olusegun Obasanjo and his successor, late Umaru Musa Yar’Adua.
Managing Director of theNDDC , Bassey Dan Abia, disclosed this known in an interview with reporters in Port Harcourt, stating that as a result of the huge debt, the commission had over N300 billion worth of Interim Payment Certificates, IPC, which it was unable to redeem.
The NDDC boss, who spoke through his Special Assistant on Youths, Culture and Sports Affairs, George Turner, however, lauded President Goodluck Jonathan for not being indebted to the commission in any way during his tenure.
Abia said: “When the present board was inaugurated, President Jonathan gave it the sole mandate of completing all abandoned projects. We have been able to keep faith with that mandate by delivering on some uncompleted projects such as the 10 University projects in Uyo, Calabar, Benin, Port Harcourt and Otuoke among others”.
According to him, Jonathan’s giant strides had helped reverse the negative trends in the funding of the commission, just as progress has been recorded in the plan to complete over 6000 projects taken over from the last NDDC board.