spot_imgspot_img
spot_img

NDDC Presents N1.911trn 2024 Budget to Senate

Date:

The Niger Delta Development Commission (NDDC) has proposed a total sum of N1.911 trillion as its 2024 aggregate expenditure.

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

Dr. Ogbuku pegged the proposed Revenue brought forward at N12 billion while the Arrears owed by the Federal Government and Recoveries by Federal Government Agencies stand at 170 billion naira.

In a further breakdown, legacy projects funded through borrowings is pegged at N1 trillion.

According to the proposal, the federal government will contribute N324.8 billion, the Ecological fund, N25 billion, while Oil Companies’ Contributions will contribute N375 billion.

He further explained that the Commission is investing 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.

In his remarks, the 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.

According to him, the 2024 Budget must consolidate already existing projects.

May be an image of 4 people, dais and text

May be an image of 3 people, dais, newsroom and text

May be an image of 16 people, dais and text

Leave a Reply

Share post:

Subscribe

spot_img

Popular

More like this
Related

Police Rescue Kidnapped Victim, Neutralize One Suspect in Akwa Ibom

A 63-year-old retired Shell Petroleum Company Worker, abducted and...

Gunmen Kidnap Driver and Police Orderly of Traditional Ruler in Port Harcourt

Gunmen have kidnapped a driver and police orderly working...

Customs Intercepts Illicit Drug Cargo Valued at Millions of Naira in Onne Port

Nigeria Customs Service says contraband drugs worth millions of...

Federal Government Unveils Plans for Solid Minerals Sector to Boost Foreign Reserve

The federal government says the Solid Minerals Sector and...