The Senate has approved the sum of Two Hundred and Forty One Billion, One Hundred and Fourteen Million naira (N241, 114,000,000) as the Budget of the Niger Delta Development Commission (NDDC) after considering the report of its Committee on Niger Delta at Senate plenary on Thursday, 23rd June, 2016.
Of the total sum, Seventeen Billion, Five Hundred and Sixty Million Five Hundred and Eighteen Thousand Nine Hundred and Thirty Naira (N17, 560,518,930) has been allocated for Personnel costs, Nine Billion Nine Hundred and Eighty Million (N9, 980,000,000) as Overhead Expenditure, One Billion Three Hundred Million (N1,300,000,000) for internal Capital Expenditure and Two Hundred and Seventy Four Million (N274,000,000) for Development Projects. The report based the expected sources of Revenue from the Federal Government, oil companies, ecological funds and other internally realized income.
Presenting the report Sen. Peter Nwaoboshi (PDP:Delta) noted that the Senate, House of Representatives and the Management of the Niger Delta Development Commission agreed to increase the revenue of the NDDC due to the significant increase in remittances by oil companies to the Commission that could be attributed to the interventions by the National Assembly.
Sen. Shehu Sani (APC:Kaduna) also hoped that the sum would reduce the agitations of the people of the Niger Delta Region and described it as a “sacrifice for peace”. The Senate President, Bukola Saraki (APC:Kwara) also hoped that the funds would be properly utilized.
