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Reps pass N346.388 NDDC Budget for 2019

The House of Representatives on Wednesday passed the N346.388 billion Niger Delta Development Commission (NDDC) budget for the year 2019.

The budget is for development projects for the service of the Niger Delta Development Commission (NDDC) for the Financial year ending on 31 May, 2020.

In the budget N1. 29 billion was earmarked for provisions for aides to board members.

The report was presented before members by the Chairman of the Commitee, Rep. Olubunmi Tunji Ojo.

Thereafter, the House approved “the issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the total sum of N346,388,900,000.00 (Three Hundred and Forty-Six Billion, Three Hundred and Eighty Eight Million, Nine Hundred Thousand Naira only.

Of the approved amount, the sum of N22,338,190,000 only is for overhead expenditure.

Internal Capital Expenditure has the sum of N4,083,000,000 approved by the lawmakers;

Also, the sum of N306, 500, 900, 000 only is for development projects for the service of the Niger Delta Development Commission (NDDC).

However, in a briefing after the plenary, Chairman of the NDDC Committee, Rep. Olubunmi Tunji Ojo. said the budget that has just been passed is for 2019 and will end on the 31st May, 2020.

The 2020 budget has been received and is being worked on, he said.

First Bank

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