By Aaron Ossai and Disun Amosun
The Niger Delta Development Commission, NDDC has proposed budgetary expenses of N2.28 trillion which it termed consolidated budget for 2021, 2022 and 2023 financial years.
It would be recalled that the National Assembly had withheld the budget of the Commission for the three years that it had been without a Governing Board.
However the federal government had in January, 2023 inaugurated the NDDC Governing Board with Lauretta Onochie as its Chairman and Samuel Ogbukwu as Managing Director hence the need for the National Assembly to approve the withheld budgets.
The Managing Director who appeared before the House of Representatives Committee on NDDC for budget presentation and defence said that an aggregate expenditure of N485.7 billion is proposed for the Commission in 2021, N928.2 billion in 2022 and N876 billion for 2023.
According to him, the consolidated appropriation bill christened: “Budget of Rewind to Rebirth” is based on assumptions of revenue such as; revenue brought forward, federal government contribution, unpaid arrears and recoveries by Economic and Financial Crimes Commission (EFCC), ecological fund, Oil Company’s contribution and other realised income.
He told members of the Committee that the revenue estimate includes cash brought forward of N35.5 billion in 2021, N3 billion in 2022 and N5 billion in 2023; federal government statutory transfers of N85 billion for 2021 and N150 billion for 2022 and 2023 each fiscal year.
“Unpaid arrears of N100 billion from the Federal Government for 2021, N504 billion for 2022 and N450 billion for 2023 being expected revenue from the Federal Government through recovery by the EFCC from oil companies.
“Expected revenue of N250 billion from the Oil & Gas Companies for 2021 and also for 2022 and also for 2023 fiscal year Expected N15 billion from Ecological fund for 2021, N20.7billion for 2022 and N20 billion for 2023, N200 million is expected from internally generated (bank interests and sales of boarded items) for 2021 while N500 million is expected in 2022 and 2023 respectively”, he added
According to Ogbukwu, out of the total budget estimates for 2021 personnel cost is N28.2 billion while N34.2 billion is proposed for 2022 and 2023.
