House of Representatives on Thursday passed into law the total sum of N453,200,000,000 as the 2020 budget for Niger Delta Development Commission (NDDC).
The sum covers the capital, personnel expenditure, and other costs of the Commission for the period ending on 31 March 2021.
The passage of the budget was sequel to the consideration of the report by the House Committee on Niger Delta Development Commission at the Committee of Supply.
Laying the report at the plenary, the Chairman of the Committee on Niger Delta Development Commission (NDDC), Hon. Olubunmi Tunji-Ojo stated that the Committee “carried out a holistic oversight of the Commission and the report is aimed at placing the Commission in the most optimal position to effectively execute its statutory mandate to Nigerians.”
He lauded the increase in revenue from the region that gave the commission a little more percentage revenue to operate.
”That the House do consider the Report of the Committee on Niger Delta Development Commission (NDDC) on the issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the Total Sum of N453,200,000,000.00 (Four Hundred and Fifty–Three Billion, Two Hundred Million Naira) only.
”Of which the sum of N27,389,000,000 (Twenty–Seven Billion, Three Hundred and Eighty–Nine Million, Naira) only is for Personnel Expenditure, N13,937,244,107 (Thirteen Billion, Nine Hundred and Thirty–Seven Million, Two Hundred and Forty–Four Thousand, One Hundred and Seven Naira) only is for Overhead Expenditure, N2,793,755,893 (Two Billion, Seven Hundred and Ninety–Three Million, Seven Hundred and Fifty–Five Thousand, Eight Hundred and Ninety–Three Naira only is for Internal Capital, N409,080,000,000 (Four Hundred and Nine Billion, Eighty Million Naira) only is for Development Projects for the period ending on 31 March 2021″, Ojo said.
Vanguard News Nigeria