The Senate on Tuesday, June 11, passed a total sum of N1.911trillion as 2024 statutory budget for the Niger Delta Development Commission (NDDC).
The Senate approved the budget after the upper chamber considered the report of its committee on NDDC during plenary.
The chairman, Senate Committee on NDDC, Senator Asuquo Ekpeyoung (APC – Akwa Ibom South) presented the report.
According to the report, the NDDC proposes to borrow N1 trillion to fund its 2024 budget.
However, senators faulted the proposed borrowing saying it did not follow due process.
They urged that the commission to work with relevant government agencies like the Debt Management Office and also compliance with the Fiscal Responsibility Act on the process of loan approval.
According to the report, commission plans to spend N38.545 billion as personnel cost; N29.246 billion as Overhead Cost and N8.785 billion as Internal Capital.
The NDDC also projected N324 billion as Federal Government’s contribution and N25 billion from the Ecological Fund.
