The Managing Director of the Niger Delta Development Commission (NDDC), Mr. Chibuzo Ugwoha, has blamed the delay in the execution of projects by the commission onÂ stringent conditions which its contractors encounter in trying to access funds in banks.
Speaking to newsmen in his office, the NDDC boss said it was regrettable that despite the provision of funds by the commission through the banks, most contractors were made to face difficulties in accessing the funds as most of the banks usually apply stringent conditions,Â thereby slowing down the pace of development.
He urged the banks to support the Federal Government in ensuring speedy development of the region by providing easy accessibility to the funds as the contractors have barely few months in the year to engage in construction works because of the rainy season.
Ugwoha restated the sincerity of President Yar â€˜Adua in developing the Niger Delta and urged the people of the area to be patient as the NDDC had been re-positioned for greater challenges.
Mr.Ugwoha assured contractors that efforts were being made to ensure that all bottlenecks which in the past had caused inaccessibility to funds from the banks were removed.
He charged the contractors to rise up to the occasion by ensuring speedy completion of projects awarded them by government.