International Oil Firms Owe State Agency About $4 billion -Alasoadura

International Oil Firms Owe NDDC $4bn

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OIL companies operating in the Niger Delta are owing the Niger Delta Development Commission (NDDC) over $4bn, the Federal Government has said.

Minister of State for Niger Delta Affairs, Tayo Alasoadura, said the debt owed the NDDC had been accumulating over a long period of time.

“International oil companies are expected to pay 3% of their annual budget to NDDC as their major income but they have been defaulting for a long period of time. Efforts are being made to get the outstanding payments which are up to $4 billion from them. All of them are owing,” he said.

It was not clear what potential enforcement mechanisms might be available to the NDDC or the government.

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Asked to respond to Alasoadura’s remarks, a spokesman for ExxonMobil said, “ExxonMobil complies with all governmental laws, rules and regulations applicable to its operations within and outside the United States.”

Spokespersons for Anglo-Dutch firm Shell and for Italy’s Eni said they would send responses later, while Chevron did not immediately respond.

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