The House of Representatives has officially approved the Niger Delta Development Commission’s 2024 Appropriation Bill totaling N1.91 trillion.
This decision came following the review of a report by the Committee on NDDC, chaired by Mrs. Erhiatake Ibori-Suenu, PDP-Delta, during Wednesday’s plenary session in Abuja.
Earlier in July, while defending the commission’s 2024 budget before the House Committee on NDDC, Managing Director Samuel Ogbuku highlighted plans to secure funding through loans amounting to N1 trillion.
“We have strategically allocated resources to diversify our funding sources, aiming to raise a total of N1 trillion from development and commercial banks to support ongoing legacy projects in 2024,” Ogbuku stated, emphasizing the commission’s commitment to infrastructure development under its fiscal strategy.
Addressing the budget’s passage, Ibori-Suenu provided a breakdown of expenditure and funding sources, stating, “The Committee on Niger Delta Development Commission urges the House to consider approving a total sum of N1.911 trillion from the Statutory Revenue Fund of the Niger Delta Development Commission. This includes N38.55 billion for personnel expenses, N29.25 billion for overhead expenses, N8.79 billion for internal capital expenditure, N835.22 billion for development projects, and N1 trillion for legacy projects funded through borrowing, valid until April 30, 2025.”
The budget allocation reveals that N1.84 trillion will be channeled towards development projects across the commission’s head office and nine states; Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers. Significant allocations include N531.78 billion for staff welfare, N92 billion for medical insurance, N800.52 billion for staff housing schemes, and various other provisions such as N2.3 billion for severance benefits, N1.7 billion for promotion arrears, N1.8 billion for voluntary retirement benefits, N750 million for pensions, and N825.54 million for recruitment services.
President Tinubu recently endorsed the NDDC’s request to borrow an additional N1 trillion for developmental projects in the 2024 fiscal year.
Representing the President at a Niger Delta Stakeholders Summit in Port Harcourt, Senate President Godswill Akpabio affirmed the administration’s commitment to fostering sustainable development in the region.
“President Tinubu is steadfast in ensuring the advancement of the Niger Delta. Projects like the East-West Road linking Bayelsa, Rivers, and Akwa Ibom, as well as the Lagos-Calabar Coastal Road, are pivotal. The NDDC’s budget for 2024 is unprecedented,” Akpabio declared, highlighting the allocation of funds exclusively for regional development.
The committee’s recommendations are set to undergo gazetting by the House Committee on Rules and Business before the final reading and passage of the appropriation bill.
