NDDC spends N9.2bn on projects in 3 months, says acting MD

Mrs Ibim Semenitari, the acting Managing Director, Niger Delta Development Commission (NDDC), says the commission spent N9.2 billion on execution of projects between Jan. and March, 2016.

Semenitari disclosed this on Sunday when she featured on the News Agency of Nigeria (NAN) Forum in Abuja.

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“As at Jan. 1 2016, our balance of account was N9.9 billion. And then within this period under review that is – January to March- for that first quarter, we received N6.8 billion from the Federal Government and N32 billion from oil companies, so that total inflow as at March was about N48. 9billion.

“These are the expenses we have made in the course of the period.

“The recurrent payment including salary and allowances and other expenditure were stood at N7 billion and payment for projects stood at N9.2 billion.

“There was no accusation of any capital fixed asset within the period under review.

“So, the total of expenditure within the period under review is N16.3 billion.’’

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She said the cash balance as at March 25, 2016 was N32. 26 billion.

“This means that when I make payment this week or next week that means that has taken to the second quarter.’’

The acting managing director said before the commission paid any contractor, it processed the interim payment certificate.

“The way we pay, we process the interim payment certificate.

“ And then the number of interim payment certificates that have processed for payment is 153 but we have worked more these numbers.

“Those that are still in the process, action is being taken, some of them have treated 493 interim payment certificates.’’

Semenitari said the commission paid 642 out of 8600 contractors during the period under review.

“Basically, what I am saying is that I have addressed over 600 contractors. In other words, 600 projects have treated during the period under review.

“We have been able to complete about 28 projects in this period.’’