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The commission presented the budget proposal before the House of Representatives Committee on NDDC in Abuja on Tuesday.
The Niger Delta Development Commission (NDDC) has proposed an aggregate expenditure of N1.911 trillion for the 2024 budget, tagged Budget of Renewed Hope.
The Managing Director of NDDC, Samuel Ogbuku, presented the budget before the House of Representatives Committee on NDDC in Abuja on Tuesday.
He said that the primary objective in preparing the budget was to achieve the sustainable economic development for which the commission was founded.
Mr Ogbuku said, “A critical focus of this budget is the present management commitment to a greater future.”
The managing director said that the commission’s actual aggregate revenue in inflows on 30 April was N683.2 billion, approximately 78 per cent of the targeted N876 billion.
This, according to him, comprises N146.4 billion, representing 122 per cent from the Federal Government and N394.5 billion, representing 14 per cent from the oil and gas companies.
“We carried forward N105 billion from 2023,” he said.
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The NDDC managing director added that despite the challenges, the commission had continued to meet its obligations.
According to him, the proposed personnel budget estimate for 2024 is N38.5 billion, adding that “we shall sustain our efforts in managing our overhead costs projected at N29.2 billion.”
Suenu Ibori, the chairperson of the committee, said that a budget remained a crucial component of any organisation’s success and progress.
She said the committee was committed to examining thoroughly the 2024 budget to ensure its optimal use.
“It is our responsibility as a committee to scrutinise your budget. Our goal is to ensure that they are realistic and achievable and in the region’s best interest,” she said.
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Ms Ibori commended the commission for recording remarkable improvement, especially in health and education, adding that the commission was duty-bound to drive development in the region.
She also commended NDDC for its intervention in the energy sector through Operation light up the Niger Delta.
Ms Ibori said this had benefited many communities, adding that there was still room for improvement.
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