The Niger Delta Development Commission (NDDC) seeks legislative approval to N1.9 trillion in the 2024 fiscal year
The Niger Delta Development Commission (NDDC) has proposed a total aggregate expenditure of N1.911 trillion for the 2024 fiscal year. This estimate is however based on assumptions of revenue inflow.
In a breakdown to parliament, the the commission proposes N1trillion as borrowings while N170 billion is expected to come from arrears owed by the federal government and other recoveries just oil companies are expected to contribute the sum of N375 billion. Other sources of revenue projections are from ecological fund standing at N25 billion, internally realised income at N5billion, revenue brought forward at N12 billion and N324.8 billion is federal government contribution.
Meanwhile, the proposed expenditure for personnel is estimated at N38.5 billion and overhead costs are projected at N29.2 billion whereas capital expenditure is N8.78 billion.
These formed part of the submission of the Managing Director (MD) of the NDDC, Dr . Samuel Ogbuku when he and his team appeared before the House of Representatives Committee on NDDC on Tuesday.
The MD also explained that the commission has moved from being transactional to being practical. “We have moved from being transactional to transformational. We thought it has to be all encompassing, from the areas of youth training, areas of supporting our entrepreneur, areas of infrastructure and development.
“In the area of infrastructure, we came up with ‘Operation Light Up Niger Delta Region’. This has seen a number of the communities being lit up using solar powered street lights which have boosted the economic activities of the communities at night.”
The MD also disclosed that 750 individuals from the Niger Delta Region have been awarded foreign scholarships, as he further revealed that over 2 million individuals have benefited in the NDDC free medical services. “In education, we have awarded foreign scholarships to 750 individuals between 2023-2024, and provided educational grants to 84 individuals.
The committee led by Rep. Erhiatake Ibori-Suenu (PDP, Delta) enjoined the commission to do a thorough payment plan on how they intend to pay back the N1trillion loan they want to secure and present before the Committee.
