NEWS

NDDC Presents N1.911tn 2024 Budget To Senate

Ogbuku outlined the proposed revenue carried forward as N12 billion, with the Federal Government’s arrears and recoveries by its agencies totaling N170 billion.

By Karo Oghenetega

The Niger Delta Development Commission (NDDC) has proposed a total expenditure of N1.911 trillion for 2024. This announcement was made by the Commission’s Managing Director, Samuel Ogbuku, on Monday during the presentation of the 2024 budget estimates, titled ‘Budget of Renewed Hope Agenda’, to the Senate Committee on NDDC, chaired by Senator Asuquo Ekpenyong.

Ogbuku outlined the proposed revenue carried forward as N12 billion, with the Federal Government’s arrears and recoveries by its agencies totaling N170 billion.

The proposal allocates N1 trillion for legacy projects funded through borrowings. Additionally, the Federal Government will contribute N324.8 billion, the Ecological Fund will provide N25 billion, and oil companies will contribute N375 billion.

Ogbuku highlighted significant investments in infrastructure, including the ‘Operation Light Up Niger Delta Region’ initiative and the construction of a multipurpose emergency shelter with a capacity of 1,000 accommodations for flood emergencies.

Committee Chairman Senator Ekpenyong emphasized the importance of timely budget submissions, urging the NDDC to submit its 2025 budget early to align with the January to December budget cycle. He also stressed that the 2024 budget should build on existing projects.

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