The Niger Delta Development Commission (NDDC) presented its ₦1.91 trillion 2024 budget to the Senate Committee on Niger Delta Affairs on Monday. The NDDC’s Managing Director, Dr. Samuel Ogbuku, alongside top management staff and board members, defended the budget, emphasizing priorities like security, job creation, youth and women empowerment, social welfare, education, and infrastructure.
Dr. Ogbuku described the budget as a “Budget of Renewed Hope Agenda,” highlighting its focus on transformation rather than mere transactions. He stated, “Our primary objective has been to sustain our robust foundation for sustainable economic development.”
The proposed expenditure for 2024 totals ₦1.911 trillion, with revenue projections including ₦12 billion from the previous fiscal year, ₦170 billion from federal government arrears and recoveries, ₦1 trillion from borrowing, ₦324 billion as federal government contribution, ₦25 billion from the ecology fund, ₦375 billion from oil companies, and ₦5 billion as internally generated revenue.
The NDDC plans to allocate ₦38.545 billion for personnel costs, ₦29.246 billion for overhead costs, and ₦8.785 billion for internal capital. A significant portion of the budget, ₦1 trillion, is earmarked for funding legacy projects through loans from commercial and development banks, with an additional ₦835.222 billion designated for various initiatives.
Dr. Ogbuku highlighted the commission’s achievements, noting that by April 30, 2024, the NDDC had received ₦683.2 billion in revenue, approximately 78% of the targeted ₦876 billion. This included ₦146.4 billion from the federal government and ₦394.5 billion from oil and gas companies, with a carry-forward of ₦105 billion from 2023.
The 2024 budget focuses on critical infrastructure, adopting a Public-Private Partnership (PPP) model to drive sustainable development in the Niger Delta. The NDDC is also partnering with the Industrial Training Fund to engage the region’s youth, aiming to reduce crime and economic sabotage.
Regarding legacy debts, Dr. Ogbuku mentioned a phased approach to repayment over the next 10 years, with an estimated provision of ₦100 million for the current year. He acknowledged that some debts are as old as 20 years and require gradual settlement.
The NDDC is also collaborating with the Niger Delta Chamber of Commerce, Trade, Mines, and Agriculture, as well as various organizations and state governments, to enhance regional development.
The commission aims to complete more than 200 kilometers of roads across the Niger Delta by the end of the 2024 fiscal year. However, Dr. Ogbuku cautioned that resources are limited and not all demands can be met, emphasizing a focus on the needs of the greater number of people.
Senate Committee Chairman Asuquo Ekpenyong urged the NDDC to ensure timely submission of future budgets, commending the commission’s innovative programs like lighting up the Niger Delta and youth education initiatives. Senator Orji Uzor Kalu, a committee member, stressed that the 10th Senate would intensify oversight on NDDC projects and activities.
