By Emmanuel Adeniyi
Senate passes NDDC 2024 budget, jerks appropriation by N44,833,046
The NDDC budget was jerked by N44,833,046, from a proposed submission of N1,911,800,000,000 that was defended on Monday.
The Managing Director, NDDC, Chief Executive Officer, Samuel Ogbuku had presented before the Senator Asuquo Ekpenyong (APC, Cross River South) led Senate Committee on NDDC, an aggregate Expenditure estimate of N1,911,800,000,000 trillion tagged ”Budget of Renewed Hope Agenda.”
However, the Senate jerked the appropriation by N44,833,046, passing a budget of N1,911,844,833,046 for the commission.
The appropriation bill was read the third time on Tuesday and passed after the clause by clause consideration.
The Chairman of the Committee, Senator Asuquo Ekpenyong submitted its report in less than 12 hours after the public hearing on the budget, which had the NDDC Managing Director, Samuel Ogbuku, appeared for defence of the budget.
Giving explanation for the increase in the budget, Ekpenyong said: “The Committee considered increase In Personnel Costs, Overhead Costs, Internal Capital estimates, as well as adjustments in the Revenue profile of the Commission. The Committee also considered the extra sum of Forty Four Million, Eight Hundred and Thirty Three li) Thousand and Forty Six Naira (N44,833,046) being the difference from the Revenue Projections proposed by the Commission and the amount approved by the National Assembly as reflected in the Appropriations Act, 2024 and consequently recommends the following as the expenditure profile: Personnel Expenditure- N38,545,349,193 Overhead Expenditure- N29,246,506,753 Intemal Capital Expenditure -N8,785,574,130; Development Projects- N835,267,402,970 and Legacy Critical Projects to be funded through Borrowings – N1,000,000,000,000.TOTAL EXPENDITURE: N1,911,844,833,046.
“That the lifespan of the Year 2024 NDDC budget should elapse on 3st December, 2024.”
The passage of the budget was sequel to the consideration of the report of the Committee on Niger Delta Development Commission (NDDC) which was presented by Senator Ekpenyong.
