Sat, Sep

Senate Passes N876bn NDDC Budget

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Senate approved the 2023 budget of N876 billion on 16th May 2023 for the Niger Delta Development Commission (NDDC), out of which N451 million was set aside for aides of 12 board members of the commission. The approved budget also contains N576 million earmarked for running the Office of the Chairman of the Commission, Lauretta Onochie. The breakdown for the office of the Chairman showed that the personnel cost would gulp N156 million, overhead -N312 million, and Internal capital N108 million. For the Managing Director’s Office, N546.597 million was earmarked for personnel costs, N747.500 million for overhead costs, and N163.504 million for Internal Capital.

Others were Executive Director Finance & Administration Office, personnel cost of N133.337 million, Overhead cost of N457.465 million, and N163.504 million for internal capital.

The Corporate Affairs Department of the commission also got N1.061 billion, out of which N431.08 million is for personnel cost, N845.57 million for overhead, and N63.09 million for internal audit. In the overall budget of the commission, personnel expenditure gulps N34.2 billion, overhead expenditure will gulp N17 billion, internal capital expenditure takes N3.7 billion, while development projects will gulp N490 billion, and Federal Government intervention in the Niger Delta, N330 billion.

The revenue sources to finance the budget are revenue brought forward of N5 billion; Federal government contribution of N119 billion; Federal government contribution (unpaid areas) of N430 Billion; Oil companies’ contributions of N297 billion, Ecological funds of N20 billion and other Internally Realised income of N500 million.

The report for consideration and approval of the budget was presented by Senator Bulus Amos in his capacity as Vice Chairman of, the Senate Committee on Niger Delta Affairs. Senate President Ahmed Lawan stated that the exercise was very expedient in order not to let the people of the region suffer from further delays.

16 out of the 30-member committee signed the report and was approved by the Senate.