From Ndubuisi Orji, Abuja
The House of Representatives Committee on Niger Delta Development Commission ( NDDC) has said it would ensure that the budget of the commission is realistic.
The chairman of the Committee, Erthiatake Ibori-Suenu, stated this, on Tuesday, when the NDDC management appeared before the committee for the presentation of its 2024 budget.
Ibori-Suenu, who stated that budget remained a crucial component of any organisation’s success,said the parliament was committed to scrutinizing the budget and ensure it is utilized optimally.
According to her, “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 best interest of the region.”
The lawmaker commended the NDDC for its programmes in the health and education sectors, as well as its intervention in the energy sector through ‘Operation light up the Niger Delta’.
The NDDC Managing Director, Mr Samuel Ogbuku, while addressing the lawmakers, said the interventionist agency is proposing a budget of N1.911 trillion for the 2024 fiscal year.
Ogbuku explained that the objective of the budget was to achieve the sustainable economic development for Niger Delta region. He that this underscores “A critical focus of this budget is the present management commitment to a greater future.”
The NDDC boss explained that the commission intends to borrow 1 trillion from commercial banks to funds its legacy project in the 2024 fiscal year.
He noted that the “money is going to be tied to projects. The directive of Mr. President is that all uncompleted and abandoned projects must be completed. As you know, the NDDC is self-funding.
“To this end, we are in partnership with the Industrial Training Fund to gainfully engage the youth of the region to reduce crime and economic sabotage, and also with the Niger Delta Chamber of Commerce, Trade, Mines, and Agriculture [NDCCTIMA)”
According to him, the agency
also expects N170 billion as arrears owed it by the federal government and recoveries by government agencies, a federal government statutory contribution of N324.8 billion, an ecological fund of N25 billion, an oil company contribution of N375 billion, and an IGR of N1 billion.