NDDC proposes N1.9trn for 2024 budget

Date:

By Femi Ogunshola
Abuja, July 9, 2024(NAN) The Niger Delta Development Commission (NDDC) has proposed an aggregate expenditure of N1.911 trillion for the 2024 budget, tagged “Budget of Renewed Hope”.

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The Managing Director of NDDC, Mr Samuel Ogbuku, presented the budget before the House of Representatives Committee on NDDC in Abuja on Tuesday.

He said that the primary objective in preparing the budget was to achieve the sustainable economic development for which the commission was founded.

Ogbuku said, “A critical focus of this budget is the present management commitment to a greater future.”

The managing director said that the commission’s actual aggregate revenue in inflows in April 30 was N683.2 billion, approximately 78 per cent of the targeted N876 billion.

This, according to him, comprises N146.4 billion, representing 122 per cent from the Federal Government and N394.5 billion, representing 14 per cent from the oil and gas companies.

“We carried forward N105 billion from 2023,” he said.

The NDDC boss added that in spite of the challenges, the commission had continued to meet its obligations.

According to him, the proposed personnel budget estimate for 2024 is N38.5 billion; adding,”we shall sustain our efforts in managing our overhead costs projected at N29.2 billion.”

Rep. Suenu Ibori, Chairman of the committee, said that a budget remained a crucial component of any organisation’s success and progress.

She said the committee was committed to examining thoroughly the 2024 budget in order to ensure its optimal use.

“It is our responsibility as a committee to scrutinise your budget. Our goal is to ensure that they are realistic and achievable and in the best interest of the region,” she said.

Ibori commended the commission for recording remarkable improvements especially in health and education, adding that the commission was duty bound to drive development in the region.

She also commended NDDC for its intervention in the energy sector through ‘Operation light up the Niger Delta’.

Ibori said this had benefited many communities, adding that there was still room for improvements.

By Naija247news
By Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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