Withheld N224bn NDDC fund has expired — Yar'Adua

Written by Emmanuel Aziken Sunday, 20 January 2008
An estimated N224 billion due to the Niger Delta Development Commission (NDDC) but held back by the immediate past administration has “expired,” President Umaru Yar'Adua has told Senators from the Niger Delta region.

This drew flak immediately from the South-South Senators who had gone for a meeting with the President last Wednesday at the Presidential Villa, blamimg it on the immediate past administration of Chief Olusegun Obasanjo.

The all-important talk was also attended by some senior administration officials including the Secretary to the Government of the Federation, Ambassador Babagana Kingibe, and the Chief of Staff to the President, Major-General Abdullahi Mohammed.

President Yar'Adua equally expressed his frustration at the militancy fanned by some youths in the region.

He lamented that continued violence was denying the region needed development, noting the increasing reluctance by many construction companies to take jobs in the region.

The expiration of the funds, the President said, was hinged on the administration’s policy of returning all unspent funds to the treasury. Full Story