The Niger Delta Development Commission (NDDC) has presented a proposed budget of N1.911 trillion for the 2024 financial year to the House of Representatives Committee on NDDC.
The budget was unveiled by the Commission's Managing Director, Dr. Samuel Ogbuku, during a session in Abuja on Tuesday.
Dr. Ogbuku emphasized that the NDDC is transitioning from a transactional to a transformational approach. The proposed budget includes N1 trillion in borrowings, with N170 billion expected from federal government arrears and recoveries.
Additionally, oil companies are projected to contribute N375 billion. Other revenue sources include N25 billion from the ecological fund, N5 billion from internally generated income, N12 billion from revenue brought forward, and N324.8 billion as federal government contributions.
Highlighting a new era of progress and development in the Niger Delta under current management, Ogbuku stressed that the Commission is redefining governance standards and driving positive change in the region.
He noted the Commission's collaborative approach and its commitment to development, citing the commissioning of over five flagship projects within 10 days. These projects include the 9km Obehie-Oke-Ikpe road in Ukwa West LGA, Abia State, ongoing reconstruction of the remaining 14km road between Oke-Ikpe and Akwete-Ohambele Road Phase 2, and the 27.5-kilometre Ogbia-Nembe road, among others.
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