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LequteMan
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Nigeria's Minister of State for Petroleum Resources, Dr. Ibe Kachikwu on Thursday revealed that there's nothing to show for the $40bn released to the Niger Delta in the last 10 years.
Speaking with Niger Delta Coastal Monarchs in Abuja, he said there's no infrastructure reflecting the money disbursed to the region through the Niger Delta Development Commission (NDDC) or the 13 per cent derivation from the Federation Accounts Allocation Committee (FAAC).
“If you look at the amount of money that has been out into the Niger Delta over the last 10 years, in papers it is over $40billion. These have come from NDDC; it has come from derivation, it has come from oil companies’ investments.
“Over $40billion, but as I go to the creek, I see no single infrastructure that you can point to to say this is the result for these investments. So what it means is that we must begin to do some soul searching ourselves: where did all this money go to. Who to them, what where they applied for ? What were the roles of our own people and others no necessary from the Niger Delta and how this money was applied .
“Because unless you solve the governance and transparency issue in terms of spending this money it doesn’t matter how much money put into the place you are going to go back to square one.
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Speaking with Niger Delta Coastal Monarchs in Abuja, he said there's no infrastructure reflecting the money disbursed to the region through the Niger Delta Development Commission (NDDC) or the 13 per cent derivation from the Federation Accounts Allocation Committee (FAAC).
“If you look at the amount of money that has been out into the Niger Delta over the last 10 years, in papers it is over $40billion. These have come from NDDC; it has come from derivation, it has come from oil companies’ investments.
“Over $40billion, but as I go to the creek, I see no single infrastructure that you can point to to say this is the result for these investments. So what it means is that we must begin to do some soul searching ourselves: where did all this money go to. Who to them, what where they applied for ? What were the roles of our own people and others no necessary from the Niger Delta and how this money was applied .
“Because unless you solve the governance and transparency issue in terms of spending this money it doesn’t matter how much money put into the place you are going to go back to square one.
Read full story
