An analyst with KPMG, Wale Ajayi, has advocated for the scrapping of the Niger Delta Development Commission (NDDC), and the open allocation of oil blocks by the Federal Government.
Ajayi, a Senior Partner, Tax, Regulatory and People’s Services at KPMG, made the call following the proposed establishment of a Petroleum Host Community Fund embedded in the Petroleum Industry Bill (PIB) currently at the National Assembly.
Ajayi who was a guest on a television programme, Global Business Report on Arise TV Network, on Tuesday, said the PIB has made provision for a competitive bidding process for the allocation of oil blocks, and as such, the government should stop the discretionary allocation of oil blocks in the country.