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Published On: Thu, Jul 17th, 2014

Senate approves N322.6bn for NDDC

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senate-chamber_anti_terrorism_billBy Ikechukwu Okaforadi

The Senate yesterday approved the sum of N322.6 billion as the total budget estimate for the Niger Delta Development Commission (NDDC) in the year 2014.

President Goodluck Jonathan had on June 4, 2014, presented the sum of N322.6 billion as the 2014 budget proposal of the Commission to the Senate for consideration and approval.

The N322.6 billion comprised of N15, 080,730,000 for personnel expenditure, while N10, 186,820,000 is for overhead expenditure.

Also, N2, 281,280,000 was capital budget, while N295, 051,170,000 is for development project expenditure.

The revenue sources for the proposed budget are made up of N23 billion revenue brought forward, N50 billion contribution for the federal government.

Others are N50 billion federal government contribution from excess crude arrears, N130 billion contribution from oil companies and others, N57 billion contribution from ecological fund office, unpaid arrears from 2012 approved budget of N12.5 billion and other internally realised income of N100 million.

Meanwhile, the Senate directed the management of NDDC not to carry out any such action in the approved budget without recourse to the National Assembly.

The Senate further resolved to pursue relentlessly, the proper calculation and release of the 15 per cent statutory contribution of the federal government for the funding of NDDC.

The Upper Chamber further passed the sum of N50.2 billion budget proposal for the Nigerian Communications Commission, (NCC).

 

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