Senate Gets N1.911trn NDDC’s 2024 Budget For Scrutiny

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The Senate on Monday received the N1.911 trillion 2024 Budget proposal from the Niger Delta Development Commission (NDDC)

Managing Director of the Commission, Samuel Ogbuku, while presenting the estimates tagged, ‘Budget of Renewed Hope Agenda’, said the proposed revenue that is brought forward is pegged at N12 billion while the arrears owed by the Federal Government and Recoveries by the Federal Government agencies stands at 170 billion naira.

In the breakdown of the budget presented before the Senate Committee on NDDC chaired by Senator Asuquo Ekpenyong, legacy projects funded through borrowings are pegged at N1 trillion, while the Federal Government is expected to contribute N324.8 billion, the N25 billion Ecological Fund, and the Oil Companies, N375 billion.

He further explained that the Commission is investing massively in the area of infrastructure such as the ‘Operation Light Up Niger Delta Region’ and the construction of a multipurpose emergency shelter with a capacity of 1000 accommodations, designed to serve as a refuge during flood emergencies.

Chairman of the Committee, Senator Ekpenyong warned against late submission of the budget of the NDDC, noting that the commission must transmit its 2025 Budget early to meet the January to December Budget Cycle.