The Nigerian Senate on Tuesday passed the Niger Delta Development Commission budget of N1.911 trillion as its 2024 aggregate expenditure.
The passage of the budget followed the presentation of the report of the Senate Committee on NDDC headed by Senator Asuquo Ekpenyong
GALAXY TV reports that the the NDDC Budget is expected to be funded through contributions from oil companies, proceeds accruing to the Ecological Fund, and Federal Government contribution.
According to the proposal, the agency proposed to borrow N1trn, as Federal Government will contribute N324.8 billion, the Ecological Fund, N25 billion, while Oil Companies Contributions will contribute N375 billion.
Meanwhile Senator Adamu Aliero queried the efforts of NDDC to borrow N1trn without due process.
The lawmakers however decried the poor infrastructural development in the Niger Delta region which he said does not represent the huge funds invested in the areas over the years.
In their contributions, Senator Adams Oshiomhole and his Niger Delta counterpart Seriake Dickson maintained that things have changed in the NDDC and explained that the NDDC could write to the Senate for borrowing after the budget has been passed into law, urging lawmakers not to judge the NDDC by its dirty past.
After the consideration report by the committee of supply, President of the Senate Godswill Akpabio called for a vote and the budget was passed into law.
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