NDDC Cancels 600 Contracts

The Niger Delta Development Commission (NDDC) says it has revoked more than 600 contracts and projects as part of efforts to restructure the commission.
NDDC’s Managing Director, Nsima Ekere told newsmen in Port Harcourt, yesterday, that the commission’s management and board took the decision to adopt a ‘4R’ initiative as roadmap to development.
According to him, the commission’s 4R initiative is restructuring the balance sheet, reforming governance protocols, restoring core mandate and reaffirming commitment to doing what is right and proper.
Ekere, who said that the commission’s balance sheet was over – bloated with contingent liabilities in excess of N1.3trillion, added that this justified the reform.
“The move became imperative looking at the resources coming on monthly or yearly basis which necessitated restructuring it in a manner that will be meaningful to achieve results.
“The last management meeting approved cancellation of over 600 projects that NDDC already embarked on.
“We discovered that some of the contracts were either not properly awarded or some of them were awarded but the contractors have not yet gone to site.
“Some of the contracts were awarded as late as 2002 with some of the contractors collecting advance payments from the commission with zero work done at the sites.”