Contractors Demand Compliance from IOCs to NDDC Obligations

Contractors associated with the Niger Delta Development Commission (NDDC) have raised alarms regarding the non-remittance of statutory funds by certain oil and gas companies. In a statement, they emphasized the urgent need for compliance with financial obligations as mandated by the NDDC Act and the Petroleum Industry Act.

The contractors, represented by Sylvest Idowu and others, expressed deep concern over the delays and outright failures of these companies to meet their financial responsibilities, which have led to critical infrastructure projects being abandoned and increased financial strain on contractors. They called on the Nigerian Upstream Petroleum Regulatory Commission and the Federal Inland Revenue Service to conduct a comprehensive audit of the oil companies to enforce compliance.

The contractors warned that continued disregard for statutory obligations could lead to unrest among host communities and urged stakeholders to engage in dialogue to resolve these issues peacefully.