Between 2009 and 2015, more than N700 billion naira was budgeted for Niger Delta ministry. President Buhari was not the president then.
Of this amount, the Federal Government released more than N420 billion naira of which projects worth 33.6 billion naira was on ground.
33.6 billion represents just 8% of the total funds disbursed!
Let’s put this in picture: Out of N420 billion naira dispensed, N386.4 billion is missing.
That is more than $1 billion USA dollars (according to interbank rates).
Let that sink.
The amount disbursed to Niger Delta Ministry is different from the federally allocated funds.
Again, that fund is also different from that disbursed to Niger Delta Development Commission, NDDC.
The figures were captured in a report presented by a Technical Audit Committee.
The committee was set up by the Minister of Niger Delta Affairs, Pastor Usani Uguru Usani.
According to the report,
“Between 2009 and 2015, about 60 per cent of 425 projects awarded were paid for.
“Approximately 40 per cent of work was practically achieved.
“This manifestly emanated from inconsistency in government annual budgetary provision and lack of capacity to deliver especially where funds released do not correspond with performance.
“Most contracts were awarded with specific dates of completion but were not captured in subsequent appropriations.
“This further exacerbated contractors’ poor performance and inability to achieve project objectives.
“Consequently, no capital project was completed within the stipulated time frame.
“As a matter of fact, the ministry’s state coordinators had little or no knowledge of projects scopes and locations.
“Generally, the cost of projects in the ministry were relatively higher than those obtained in other establishments, like the (NDDC) which also operate in the same region.
“One which calls for serious scrutiny is the cost of roads.
“For instance, there was no standard to determine the cost of a kilometer in a two-lane, three-lane or four-lane roads,” the report said.
What happened to all the monies?