The Nigerian House of Representatives has approved three hundred and forty-six point three-eight-eight Billion Naira (N346.388bn) budget for the Niger Delta Development Commission, NDDC, in 2019 financial year ending on May 31, 2020.
Out of the amount, the Sum of twenty-two point three-four Billion Naira (N22.338bn) is for Personnel Expenditure, thirteen point four-seven Billion Naira (N13.466bn) is for overhead Expenditure while the sum of four point zero-eight Billion Naira (N4.083bn) is for Internal Capital Expenditure.
Also, the sum of three hundred and six point five Billion Naira (N306.500bn) is for Development Projects for the Service of the Niger Delta Development Commission, NDDC.
The House approved the budget after the consideration of a report by House Committee of Supply chaired the Speaker, Femi Gbajabiamila at the plenary.
Presenting the report earlier, the Chairman House Committee on Niger Delta Development Commission, NDDC, Mr. Olubunmi Tunji-Ojo urged the House to consider the Report of the Committee on Niger Delta Development Commission on the issue.
He said “The Sum of N22,338,190,000 (Twenty-Two Billion, Three Hundred and Thirty-Eight Million, One Hundred and Ninety Thousand Naira) only, is for Personnel Expenditure, while the Sum of N13,466,810,000 (Thirteen Billion, Four Hundred and Sixty-Six Million, Eight Hundred and Ten Thousand Naira) only, is for Overhead Expenditure, while the sum of N4,083, 000,000 (Four Billion, and Eighty-Three Million Naira) only, is for Internal Capital Expenditure .
The sum of N306,500,900,000 (Three Hundred and Six Billion, Five Hundred Million, Nine Hundred Thousand Naira) only is for Development Projects for the Service of the Niger Delta Development Commission(NDDC) for the Financial Year Ending on 31 May, 2020 and approve the recommendations therein” (Laid:26/2//2020) (Committee of Supply).
Issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the Total Sum of N346,388,900,000.00 (Three Hundred and Forty-Six Billion, Three Hundred and Eighty-Eight Million, Nine Hundred Thousand Naira for the Financial Year Ending on 31 May, 2020″.
After clause by clause consideration of sub-headings as read by the Speaker, the budget was unanimously approval by the House after a motion moved to the effect by the Majority Leader, Alhassan Ado Doguwa.
Addressing news men shortly after the approval of the budget, the Chairman House Committee on NDDC, Mr. Tunji-Ojo said that with the approval of the budget by the Parliament, things would start taking shape in the Niger Delta region
The lawmaker gave the assurnce that the Committee under his watch through oversight would give the Commission close mark in ensuring judicious disbursement and utilization of the funds.
“NDDC, has witnessed many setbacks, the region is suffering despite billions of naira budgeted for its development, now that the Commission has a budget to work with, the narration is going to change for good, it is no longer going to be business as usual.” Mr. Tunji-Ojo explained.
The Niger Delta Development Commission was established in the year 2000 with the sole mandate of developing the oil-producing Niger Delta region of Nigeria.
One of the core mandates of the Commission is to train and educate the youths of the oil rich Niger Delta regions to curb hostilities and militancy, while developing key infrastructure to promote diversification and productivity.
The nine oil producing States making NDDC are Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers. (VON)