• Thursday, February 29, 2024
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Senate passes N876bn for NDDC 2023 budget

NDDC set to partner indigenous cassava starch firm to go beyond 250,000 mtpd

The Senate has passed the 2023 budget of N876 billion for the Niger Delta Development Commission (NDDC) out of which N451 million was approved as provisions for aides of 12 board members of the commission.

The NDDC budget report for consideration and approval was presented by Bulus Amos, the vice chairman of the Senate Committee on Niger Delta Affairs on the floor of the Senate on Tuesday.

Sixteen out of the 30-member committee signed the report considered and approved by the Senate.

In the overall budget, personnel expenditure is N34.2 billion, overhead expenditure, gulp N17 billion; internal capital expenditure is put at N3.7 billion; development projects will gulp N490 billion and Federal Government intervention in the Niger Delta – is N330 billion.

The revenue sources to finance the budget are revenue brought forward – N5 billion, Federal Government contribution – N119 billion, Federal Government contribution (unpaid areas) – N430 billion; oil companies contributions – N297 billion; ecological funds- N20 billion, and other internally realised income – N500 million.

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The approved budget also contained N576 million earmarked for the running of the office of the chairman of the commission.

The breakdown for the office of the chairman showed that the personnel cost will be 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; N163.504 million for internal capital.

Others are the executive director finance & administration office- personnel cost N133.337 million; overhead cost- N457.465 million; and N163.504 million for internal capital.

The corporate affairs department of the commission got N1.061 billion from the votes out of which N431.076 million is for personnel cost; N845.566 million for overhead and N63.081 million for internal audit.

After passing the budget, Ahmed Lawan, the president of the Senate, informed that the exercise was expedient not to let the people of the region suffer from further delays.