The Niger Delta Development Commission (NDDC) has presented a budget proposal of N1.911 trillion for the 2024 fiscal year to the House of Representatives Committee on NDDC for approval.
During the budget presentation in Abuja, Dr Samuel Ogbuku, the Managing Director, highlighted that the Commission has transitioned from transactional to transformational operations.
Ogboku stated that the Commission proposed N1 trillion in borrowings, with an anticipated N170 billion expected to come from government arrears and recoveries.
He added that oil companies should contribute N375 billion, and other revenue projections include N25 billion from the ecological fund, N5 billion from internally realized income, N12 billion from revenue brought forward, and N324.8 billion as government contribution.
He emphasised that a new era of progress and development was unfolding in the Niger Delta region under the current leadership, adding that the Commission was setting new benchmarks for governance and efficiency in driving positive transformation in the region.