From Fred Itua , Abuja
Senate has approved N241 billion as the 2016 Niger Delta Development Commission (NDDC) budget.
In passing the budget, Senate reduced the N260 billion budget submitted by President Muhammadu Buhari by N19 billion. The budget slash in the budget was in the area of development projects. President Buhari had proposed N231,224,000,000 for development projects, but the upper legislative chamber cut it down to N212,274,000,000.
A breakdown of the budget shows that N18 billion is for personnel cost, N10 billion for overhead, internal capital, N1 billion and development project, N231 billion.
Presenting the report of his committee on the budget, Chairman of the Committee on Niger Delta, Senator Peter Nwaoboshi said the source of revenue for the budget included “oil companies’ contributions and others, amounting to N130 billion, ecological funds of N10 billion and other internally realised income of N100 million. Adjustments were made to reflect the new figure of N241 billion. “The reduction was made only in the capital projects amounting to 8.2 percent. The reduction did not affect the recurrent expenditure.”
Speaking after the budget was passed, Senate President, Bukola Saraki, urged the NDDC “to ensure proper implementation in view of its importance to the people of the Niger Delta Region and Nigerians at large.”
Meanwhile, Senate has adjourned plenary for two weeks. The Red Chamber is expected to resume on July 12, 2016.