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.
Nigerian senate
This followed the presentation of the report of the Senate Committee on Niger Delta Affairs by the Vice Chairman of t he 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
Read Also: JUST IN: Senate Reveal When 2021 National Budget Will Be Presented
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.
Post Disclaimer
The opinions, beliefs and viewpoints expressed by the author and forum participants on this website do not necessarily reflect the opinions, beliefs and viewpoints of Anaedo Online or official policies of the Anaedo Online.