Reps approve NDDC’s budget of N346.388bn

The Commission’s latest annual budget is for development projects for the fiscal and financial year ending on 31 May, 2020.

In the approved annual ritual, N1. 29 billion was set aside as provision for aides to board members of the interventionist agency

The approval followed report presented before lawmakers by the Chairman of the NDDC Committee, Hon Olubunmi Tunji Ojo.

 It reads” That this House approved the issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the total sum of N346,388,900,000.00 (Three Hundred and Forty-Six Billion, Three Hundred and Eighty Eight Million, Nine Hundred Thousand Naira only”.

Out of this amount, the sum of N22,338,190,000 (Twenty-two billion, Three Hundred and Thirty-Eight Million, One Hundred and Ninety Thousand Naira, only is for Personnel Expenditure.

The sum of N13, 466, 810, 000 (Thirteen Billion Four Hunted.and Sixty-Six Million, Eight Hundred and Ten Thousand Naira, only is for Overhead Expenditure.

Moreover, Internal Capital Expenditure has the sum of N4,083,000,000 (Four Billion, and Eighty-three Million Naira approved by the lawmakers;

Again, the sum of N306, 500, 900, 000 (Three Hundred and Six Billion, Five Hundred Million, Nine Hundred Thousand Naira only is for development projects for the service of the Niger Delta Development Commission (NDDC).