The Niger Delta Development Commission (NDDC) has put forward a proposed budget of N1.911 trillion for the year 2024, labeled as the “Budget of Renewed Hope.”
On Tuesday, Mr. Samuel Ogbuku, the Managing Director of NDDC, presented this budget to the House of Representatives Committee on NDDC in Abuja.
He stated that the main goal in creating the budget was to achieve the sustainable economic development for which the commission was established.
Ogbuku said, “A critical focus of this budget is the present management commitment to a greater future.”
The managing director noted that the commission’s actual aggregate revenue in inflows as of April 30 was N683.2 billion, which is roughly 78 percent of the targeted N876 billion.
According to him, this amount includes N146.4 billion, representing 122 percent from the Federal Government, and N394.5 billion, representing 14 percent from the oil and gas companies.
“We carried forward N105 billion from 2023,” he said.
Despite facing challenges, the NDDC has continued to fulfill its responsibilities, Ogbuku added.
He also mentioned that the proposed personnel budget estimate for 2024 is N38.5 billion, and emphasized, “we shall sustain our efforts in managing our overhead costs projected at N29.2 billion.”
Rep. Suenu Ibori, the committee chairman, emphasized the importance of the budget for the success and progress of any organization.
She assured that the committee is dedicated to thoroughly reviewing the 2024 budget to ensure its optimal use.
“It is our responsibility as a committee to scrutinize your budget. Our goal is to ensure that they are realistic and achievable and in the best interest of the region,” she said.
Ibori praised the commission for its significant improvements, particularly in health and education, and reiterated the commission’s role in driving regional development.
She also commended NDDC’s efforts in the energy sector through the ‘Operation Light Up the Niger Delta’ initiative, noting its benefits to many communities, while acknowledging that there is still room for improvement. (NAN)
