NDDC To Cancel N90 Billion Contracts
The Niger Delta Development Commission (NDDC) is set to take a bold step.
The commission says it will cancel contracts worth N90 billion over non-performance of those companies.
The N90 billion is the total sum of 482 contracts.
The Chairman of the governing board of the Commission, Victor Ndoma-Egba says authorities are also set to pay all outstanding arrears of foreign scholarships to students.
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“Board reviewed the activities of the commission in the year, took statutory reports on procurements, budget performance, revenue and expenditure.
“Part of the decision we arrived at was to cancel 482 projects between 0-5 per cent startup valued at about N90 billion. This is in a bid to clean up the commission’s books and to remove non-performing items.
“Also, by Tuesday next week, all outstanding issues regarding the foreign scholarship scheme would have been sorted out.”
For 2018, he said “our Signature project Obia-Nembe road which is our flagship for partnership with oil producing companies, will be ready this December and we are looking forward to commissioning it early next year.”
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