The Senate on Monday passed the sum of N453.2bn 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 noted that the revenue profile of the Commission for year 2020 consisted of revenue brought forward of N12billion, federal government contribution of N63,506,151,945.00, contributions by oil companies, Nigeria Liquefied Natural Gas Limited, and others in the sum of NN317,493,848,055.00, Ecological fund of N60billion, and internally generated income of N200million.
Bulus explained 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 also recommended that the 2020 budget of the NDDC would elapse on 31st March, 2021.
The Senate approved all the recommendations of the Committee
