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Published On: Thu, Oct 11th, 2018

NDDC to spend N346bn in 2018, as Buhari forwards budget to NASS

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By Ikechukwu Okaforadi and Musa Adamu

The Niger Delta Development Commission (NDDC) will spend the whooping sum of N346.5 billion in the 2018 fiscal year, even as President Muhammadu Buhari, yesterday sent the budget request of the commission to the Senate for approval.
In the letter address to the senate President, Bukola Saraki, by President Buhari, which detailed where the N346.5billion would be generated from, N10,500 billion is the revenue brought forward.
Also, N81,882 billion is the federal government contribution for the year, while N33,981 billion is the unpaid arrears by the federal government, and N220,000 is oil companies contribution, and N150 thousand is from other realised income.
Explaining how the N346.5 billion would be expended by the commission in 2018, the President said in the letter that N19,5billion would be expended on personnel, while N12,737 billion would be expended on overhead cost.
Also, N2.883 billion would be expended on internal capital expenditure of the agency, and N311,371billion would be expended on developmental projects and coastal states special projects.
Meanwhile, in the 2017 fiscal year, the NDDC budgeted N364.5billion in the year’s fiscal period.
In another development, President Buhari yesterday in another letter to the senate, requested the red chambers to confirm the appointment of Olanipekun Olukoyede as the Secretary of the Economic and Financial Crimes Commission (EFCC).
In the letter, President Buhari said this is in Compliance with the provision of Section 2(3) of the EFFC (Establishment) Act 2010. “While looking forward for the usual expeditious consideration of the Distinguished Senate, please accept, Mr. President, the assurances of my highest consideration”, the letter concluded.
President Buhari also in another letter, presented to the senate an executive Bill: Suppression of Piracy and Other Maritime Offences Bill (2018) for passage into law.
In a brief explanation of the intent of the Bill, Buhari said it will curtail illegal activities of pirates at sea, as well as reduce the incidence oil theft in domestic and international waters.
He said also that the Bill will desiccate the relevant provisions of international treaties to which Nigeria is a signatory, including the provision of the United Nations Convention on Law of the Sea, 1982 (UNCLOS II) relating to piracy.

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