The Senate yesterday approved the 2023 budget of the Niger Delta Development Commission (NDDC), totaling N876bn.
The sum of N451 million was also approved as provisions for aides of 12 NDDC board members.
The approved budget also contains N576 million earmarked for running the Office of the Chairman of the Commission, Laurreta Onochie.
The breakdown for the office of the Chairman showed that the personnel cost would gulp – N156 million, overhead -N312 million and Internal capital – N108 million.
For the Managing Director’s Office, N546.597 million was earmarked for personnel cost, N747.500 million for overhead cost and N163.504 million for Internal Capital.
Others were Executive Director Finance & Administration Office, personnel cost N133.337million, Overhead cost N457.465 million and N163.504 million for internal capital .
The Corporate Affairs Department of the Commission also got N1.061billion from the votes, out of which N431.076million is for personnel cost, N845.566 million for overhead and N63.081million for Internal Audit.
In the overall budget of the commission, personnel expenditure is to gulp N34.2 billion while overhead expenditure would gulp N17 billion.
Also, Internal Capital expenditure would gulp N3.7 billion, Development projects – N490 billion and Federal government intervention in the Niger Delta – N330 billion.
The revenue sources to finance the budget are revenue brought forward of N5 billion; Federal government contribution – N119 billion; Federal government contribution (unpaid areas) – N430 Billion; Oil companies’ contributions – N297 billion, Ecological funds – N20 billion and other Internally Realised income – N500 million.
Report for consideration and approval of the budget , was presented by Senator Bulus Amos in his capacity as Vice Chairman, Senate Committee on Niger Delta Affairs .
President of the Senate Ahmed Lawan said the exercise was very expedient in order not to let the people of the region suffer from further delays.
https://www.thisdaylive.com/index.php/2023/05/17/senate-passes-n876bn-nddc-2023-budget/
