BREAKING: Senate Passes N453.2bn NDDC’s 2020 Budget
The Senate on Monday passed the sum of N453,200,000,000.00 as the budget of the Niger Delta Development Commission (NDDC) for the 2020 fiscal year.
This followed the presentation of the report of the Senate Committee on Niger Delta Affairs by the Vice Chairman of t he Committee, Senator Amos Kilawangs Bulus (Gombe South) at plenary.
The Committee in its recommendation noted that the revenue profile of the Commission for year 2020 comprised of revenue brought forward of N12billion, federal government contribution of N63,506,151,945.00, oil companies contributions of and Nigeria Liquified Natural Gas Limited (NLNG) and Others in the sum of NN317,493,848,055.00, Ecological fund of N60billion and other internally realized income of N200million.
Bulus added that after due consideration, the Committee recommended that the expenditure profile of the NDDC for year 2020 should include a personnel cost of N27.389billion, Overhead expenditure of N13,937,244,107.00, internal capital expenditure of N2,793,755,893.00 and development projects at the cost of N409.080billion.
The Committee further recommended that the 2020 budget of the NDDC would elapse on 31st March, 2021.
All the recommendations of the Committee were approved by the Senate after due consideration.
