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 the
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.

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 the
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.