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NDDC presents N1.911tr 2024 budget to senate

THE Niger Delta Development Commission (NDDC) has projected a total expenditure of N1.911 trillion for 2024.

The Managing Director of the Commission, Samuel Ogbuku, stated this today during the presentation of the NDDC budget projections for 2024, titled ‘Budget of Renewed Hope Agenda’, before the Senate Committee on NDDC, chaired by Senator Asuquo Ekpenyong.

Ogbuku estimated the proposed revenue brought forward as N12 billion. The arrears owing by the Federal Government and recoveries by Federal Government agencies total 170 billion naira.

Further breakdown shows that legacy projects supported by borrowings total N1 trillion. According to the proposal, the Federal Government will contribute N324.8 billion, the Ecological Fund N25 billion, and Oil Companies N375 billion.

He went on to say that the Commission is investing heavily in infrastructure projects such as ‘Operation Light Up Niger Delta Region’ and the development of a multipurpose emergency shelter with a capacity of 1000 accommodations, which would be used as a refuge during flood emergencies.

The Chairman of the Committee, Senator Ekpenyong, advised against late submission of the NDDC’s budget, adding that the commission must transmit its 2025 Budget early in order to meet the January-December Budget Cycle.

According to him, the 2024 budget should focus on already existing projects.

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