By Mercy Adewunmi
In a significant move, the Nigerian Senate has passed a budget of 1.911 trillion Naira for the Niger Delta Development Commission (NDDC) as its aggregate expenditure for the year 2024.
The approval of the budget came after the presentation of the report by the Senate Committee on NDDC, chaired by Senator Asuquo Ekpenyong.
The funding for the NDDC budget is expected to come from various sources, including contributions from oil companies, proceeds from the Ecological Fund, and contributions from the Federal Government.
The proposed budget includes a plan for the NDDC to borrow one trillion Naira, with the Federal Government set to contribute N324.8 billion, the Ecological Fund providing 25 billion Naira, and Oil Companies contributing 375 billion Naira.
However, Senator Adamu Aliero raised concerns about the NDDC’s plans to borrow such a large sum without following due process.
Despite concerns raised by some lawmakers about the lack of visible infrastructural development in the Niger Delta region despite past investments, Senators Adams Oshiomhole and Seriake Dickson defended the NDDC, stating that significant changes have been made within the commission.
Following the consideration of the committee report, Senate President Godswill Akpabio called for a vote, leading to the budget’s passage into law.
The approval of this budget marks a significant step forward for the development of the Niger Delta region and signals a continued commitment to addressing the region’s needs and challenges.
