Oil Firms Paid NDDC $6.76bn and ₦1.53tn, Still Owe $290m and ₦163bn
Oil and gas companies paid $6.755 billion and ₦1.529 trillion to the Niger Delta Development Commission between 2021 and 2025 as statutory contributions, the commission told the Senate Public Accounts Committee. The payments represent the mandatory 3% contribution by oil and gas firms for development projects and environmental interventions in the Niger Delta. However, the NDDC said companies still owe $290 million and ₦163 billion for the period. At the hearing on NEITI audit reports for 2021 to 2023, the Revenue Mobilisation Allocation and Fiscal Commission also said Nigeria spent ₦1.16 trillion on fuel subsidies in 2021. It added that ₦1.20 trillion was deducted from crude oil sales, alongside deductions for product losses, pipeline repairs and strategic stock holding. The RMAFC raised concerns that the current calculation of the 13% derivation fund does not fully reflect the constitutional purpose of the policy.
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