The National Assembly is set to pass the budget of the Niger Delta Development Commission (NDDC).
This follows the laying of the reports of the Committee on Niger Delta Development Commission by both chambers of the National Assembly.
The Chairman of the House of Representatives Committee on NDDC, Hon. Olubunmi Tunji Ojo laid the report on the budget in plenary on Wednesday, February 26, 2020. The motion was seconded by Hon. Nkeiruka Onyejeocha.
The Chairman, Senate Committee on Niger Delta, Senator Peter Nwaoboshi presented the report on the 2019 budget estimates of the NDDC during plenary on Thursday, 27 February 2020. Senator Hadejia Ibrahim seconded that the Senate received the report of the Committee.
According to the details of the report of the Committee on Niger Delta Development Commission on the issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the Total Sum of N346,388,900,000.00 (Three Hundred and Forty-Six Billion, Three Hundred and Eighty-Eight Million, Nine Hundred Thousand Naira) only, of which the Sum of N22,338,900,000 (Twenty-Two Billion, Three Hundred and Thirty-Eight Million, Nine Hundred Thousand Naira) only, is for Personnel Expenditure.
The Sum of N13,466,810,000 (Thirteen Billion, Four Hundred and Sixty-Six Million, Eight Hundred and Ten Thousand Naira) only, is for Overhead Expenditure, while the sum of N4,083, 000,007 (Four Billion, and Eighty-Three Million, Seven Kobo) only, is for Internal Capital Expenditure.
The sum of N306,500,899,992 (Three Hundred and Six Billion, Five Hundred Million, Eight Hundred and Ninety-Nine Thousand, Nine Hundred and Ninety-Two Naira) only is for Development Projects for the Service of the Niger Delta Development Commission(NDDC) for the Financial Year Ending on 31 May 2020.
With the laying of the reports of both Chambers of the National Assembly, analysts believe the budgets of the Commission would soon be considered and passed.