Niger Delta Wasted $258bn in 26 Years, Says Wabote

Simbi Wabote, the former Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), stated in Port Harcourt that the Niger Delta region has squandered over $258 billion in the past 26 years. This financial loss is attributed to improper utilization of federal allocations, including excess crude revenue and the amnesty program, as well as ineffective policies that failed to create a workable framework for development.

Wabote criticized the region's economic situation, noting that it ranks among the lowest in Nigeria despite its significant contributions to the national economy. He called for urgent efforts to diversify the economy away from oil dependency and establish clear metrics for monitoring progress.

Dr. Samuel Ogbulu, the Managing Director of the Niger Delta Development Commission (NDDC), echoed the need for a proper needs assessment template to drive development.

The conference, organized by NDCCITMA, aimed to foster collaboration between the public and private sectors to revitalize the region's economy.