{"id":54974,"date":"2021-07-06T07:47:49","date_gmt":"2021-07-06T06:47:49","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=54974"},"modified":"2021-07-06T07:49:55","modified_gmt":"2021-07-06T06:49:55","slug":"akpabio-speaks-on-nigerias-corruption-says-it-discourages-foreign-investment","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/07\/06\/akpabio-speaks-on-nigerias-corruption-says-it-discourages-foreign-investment\/","title":{"rendered":"Akpabio speaks on Nigeria’s corruption, says it discourages foreign investment"},"content":{"rendered":"

Minister of Niger Delta affairs, Godswill Akpabio has stated that the major problem of the country is corruption.<\/p>\n

This was stated on Monday by Godwin Akpabio at a\u00a0town hall meeting on the protection of oil and gas infrastructure in the country, held in Abuja.<\/p>\n

The minister said international oil companies (IOCs) may be discouraged from remitting what is due to host communities because of corruption, since such funds appear unaccounted for.<\/p>\n

\u201cThe IOCs must have been discouraged by the way the funds made available were used by NDDC. You cannot point to any substantial development in any of the nine states, in spite of the money that has so far gone into the NDDC<\/a>,\u201d he said.<\/p>\n

\n

\u201cSo, I thank the president for trying to find out how much has gone into the NDDC and how much has been judiciously spent.<\/p>\n

\u201cThe reality is that corruption is the major problem of Nigeria. Even when the first prime minister took over from the British government, the British drew as part of their report that the greatest problem facing Nigeria in 1960 was corruption.<\/p>\n

\u201cWith corruption, no matter the amount we put for the oil communities, we might end up with communal clashes.\u201d<\/p>\n

The minister also said the IOCs owe the Niger Delta about $4.2 billion.<\/p>\n

\u201cWhen NDDC came on board, the IOCs collectively owed the NDDC remittance of about $4.2 billion,\u201d Akpabio said.<\/p>\n

\u201cIt is not only the IOCs alone, because some of the contracts are JVCs [joint venture contracts]. The JVCs are part of these impediments, because NAPIMS [National Petroleum Investment Management Services] or so must collaborate with the IOCs before some of those releases are made.<\/p>\n

\u201cWe implore members of the national assembly to look into this, because I noticed that there are no sanctions for non-payment of the three percent.<\/p>\n

\u201cSo, it means every you have to go cap-in-hand, begging the oil communities to pay their percentage as a result of their lackadaisical attitude. So, the region has not been able to get the required funds.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Minister of Niger Delta affairs, Godswill Akpabio has stated that the major problem of the country is corruption. This was stated on Monday by Godwin Akpabio at a\u00a0town hall meeting on the protection of oil and gas infrastructure in the country, held in Abuja. The minister said international oil companies (IOCs) may be discouraged from […]<\/p>\n","protected":false},"author":17,"featured_media":27973,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1127,12606,11609,12605],"class_list":["post-54974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-corruption","tag-foreign-investors","tag-godwin-akpabio","tag-niger-delta-affairs"],"yoast_head":"\nAkpabio speaks on Nigeria's corruption, says it discourages foreign investment<\/title>\n<meta name=\"description\" content=\"Minister of Niger Delta affairs, Godswill Akpabio has stated that the major problem of the country is corruption.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/06\/akpabio-speaks-on-nigerias-corruption-says-it-discourages-foreign-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Akpabio speaks on Nigeria's corruption, says it discourages foreign investment\" \/>\n<meta property=\"og:description\" content=\"Minister of Niger Delta affairs, Godswill Akpabio has stated that the major problem of the country is corruption. 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