Niger Delta Development Commission, NDDC, has revealed that the Governance Advisory Report from the multinational business management consultancy firm, KPMG, is the reason behind the tool for the realization of the Commission’s transition from transaction to transformation policy.
The Managing Director of the commission, Dr. Samuel Ogbuku, while addressing on the presentation of the KPMG advisory report at the NDDC headquarters in Port Harcourt, recently, mentioned that the Commission is eager to proceed to the implementation phase of the new governing system.
Speaking on the importance of the document, Ogbuku assured that the report will serve as a guide once the board adopts it, adding that it will also become a policy statement that every directorate and department of the Commission can use after approval.
Ogbuku announced that the document is coming at the right time when the NDDC has a functional budget when it comes to the implementation stage and will ensure it follows the report to the letter.
However, Ogbuku hinted that the Commission must ensure that a new institutional culture anchored on sound ethics and good corporate governance was in place to improve its internal processes and institutional protocols.
Speaking further, he maintained that the report would provide advisory services to the Commission on global best practices, corporate governance culture, and internal processes, noting that the governance structure would strengthen the Commission by instituting lasting internal regulations.
On their various views, KPMG Manager, Mr. Olugbenga Afuwape, and the Executive Director of Finance and Administration, Hon. Alabo Boma Iyaye, said the Governance Advisory Report was structured into seven policy documents, including six charters, covering risk management, internal controls, stakeholder engagement, board policies, and key management policies, pledging that KPMG would continue to offer its skills and experiences to improve NDDC’s internal processes and ensure accountability and transparency. They also appreciated the initiative to review the Commission’s governing structure, describing it as timely and assured that all recommendations would be implemented.
They both mentioned that the Governance Advisory Report would enhance the service delivery of the NDDC, which would result in stakeholder satisfaction.
In the same direction, the Executive Director of Corporate Services, Hon. Ifedayo Abegunde, applauded KPMG for its thorough work and stated that partnering with the NDDC would help to enhance productivity, reform, and transform.
