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The Niger Delta Development Commission (NDDC) has unveiled its proposed budget for 2024, titled “Budget of Renewed Hope.” The N1.911 trillion spending plan aims to revitalize economic development in the Niger Delta region.
Focus on Sustainable Growth:
- NDDC Managing Director Samuel Ogbuku emphasized the budget’s central goal of achieving sustainable economic development for the region.
- The plan prioritizes long-term growth and responsible resource allocation.
Revenue and Challenges:
- As of April 30, 2024, the NDDC collected N683.2 billion, approximately 78% of its targeted revenue of N876 billion.
- This includes N146.4 billion (122%) from the Federal Government and N394.5 billion (14%) from oil and gas companies.
- The Commission carried forward N105 billion from 2023.
- Despite these challenges, Ogbuku assured that the NDDC continues to meet its financial obligations.
Budget Breakdown:
- The proposed personnel budget is estimated at N38.5 billion.
- The commission plans to maintain overhead costs at N29.2 billion.
Oversight and Scrutiny:
- House Representatives Committee Chair Suenu Ibori highlighted the critical role of a budget in organizational success.
- The committee expressed its commitment to thoroughly examining the proposed budget for optimal resource utilization.
- Ibori emphasized the committee’s responsibility to ensure the budget is realistic, achievable, and serves the best interests of the Niger Delta.
Positive Developments:
- Ibori commended the NDDC for demonstrating improvements, particularly in healthcare and education.
- She acknowledged the commission’s role in driving regional development.
- The committee also applauded the “Operation Light Up the Niger Delta” initiative for its positive impact on communities, while acknowledging room for further progress.
Looking Ahead:
- The House Representatives Committee’s scrutiny ensures responsible budget allocation and promotes transparency within the NDDC.
- The proposed budget, if approved, could lead to significant investments in the Niger Delta, fostering sustainable economic growth and improving the lives of residents.
