Senate Passes N299.5B As 2015 Budget For NDDC

The Nigerian Senate has approved the sum of N299.5 billion for the Niger Delta Development Commission (NDDC) with a breakdown of the budget showing that it comprises of N271 billion project expenditure; N16.1 billion personnel expenditure; N10.4 billion overhead expenditure and N1.8 billion capital expenditure.
The approval was part of its activities for Thursday which included passing of two bills.
The bills passed were the Nigerian Immigration amendment Bill 2015, which repealed the Nigerian Immigration Act of 1963 and the Nigerian Automotive Industry Development Plan Bill 2015.
The NDDC budget figure is also expected to be drawn from a projected revenue of N300 billion consisting of N160 billion contribution from oil companies, N70 billion from the Federal Government; N40 billion Ecological Funds; N20 billion unpaid arrears by the Federal Government; N10 billion brought forward and N100 million Internally Generated Revenue.
The N271bn approved as project development expenditure represents N90.5 per cent of the total budget while the N28.4 billion non-project expenditure which comprises of personnel, overheads and the internal capital represents 9.5 percent.
Senator James Manager, the chairman of the Senate Committee on Niger Delta while explaining details of the budget, said due to the peculiar nature of the NDDC budget, the committee found that it was necessary to separate the capital budget meant for use internally by the commission, from capital budget meant for project development explaining further that the budget would be operative from 1st January 2015 to 31st December 2015.
He also admonished the Senate to assist the NDDC especially in the area of the release of 15 percent statutory contribution by the Federal Government for the funding of the NDDC and the statutory 50 per ent of monies meant for the NDDC member states from the Ecological Fund.
He tasked the Senate to caution NDDC officials against carrying out any virement in the approved budget without a recourse to the National Assembly.


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