NDDC Proposes N1.911tn Budget for 2024 Fiscal Year

Adedayo Akinwale in Abuja

The Niger Delta Development Commission (NDDC) has submitted a proposed budget of N1.911 trillion for the 2024 financial year to the House of Representatives Committee on NDDC.

Its Managing Director, Dr. Samuel Ogbuku while presenting the proposed budget before the committee yesterday, in Abuja, said the Commission has moved from being transactional to transformational.

He explained that the Commission proposed N1 trillion as borrowings, while the sum of N170 billion was expected to come from arrears owed by federal government and recoveries.

Ogbuku, stressed that oil companies were expected to contribute the sum of N375 billion, while other sources of revenue projections are: ecological fund which is expected to contribute N25 billion; internally realised income is pegged at N5 billion, revenue brought forward is N12 billion and N324.8 billion as federal government contribution.

He added that in the Niger Delta region, a new dawn of progress and development was emerging under the present management, stressing that the Commission was redefining the standards of governance and effectiveness in driving positive change in the region.

Ogbuku, noted that the hallmark of this present management’s tenure lied in its uncommon approach development and collaboration.

He added that NDDC also commissioned over five flagship projects within 10 days including; 9km Obehie-Oke-lkpe road in Ukwa West LGA, Abia State; Reconstruction of the remaining 14km road between Oke-lkpe and Akwete-Ohambele Road Phase 2 is ongoing; commissioning of the 27.5 kilometre Ogbia -Nembe road, among others.