LIVE UPDATES
The Niger Delta Development Commission (NDDC) has said that the prompt approval of its 2024 budget will expedite the development of the Niger Delta region.
The Managing Director, NDDC, Dr. Samuel Ogbuku, stated this while presenting the 2024 budget estimates of N1.9tn to the House of Representatives Committee on the NDDC in Abuja, as reported by the NDDC Director of Corporate Affairs, Seledi-Wakama, on Thursday.
He emphasized that significant strides had been made in the region and efforts were underway to complete all ongoing projects.
The 2024 budget, titled, ‘Budget of Renewed Hope’, aims to establish a solid foundation for sustainable economic development and greener future for the region.
The proposed budget will be financed through various sources including Federal Government contributions, oil companies’ contributions, ecological funds, arrears owed to the NDDC by the Federal Government, recoveries by Federal Government agencies, revenue brought forward, borrowings, and internally realized incomes.
Ogbuku also highlighted the focus on investing in critical infrastructure and adopting a public-private partnership model to drive sustainable development in the region.
He added that new performance management frameworks would be introduced to regulate overhead costs, stressing that only activities tied to measurable programmes would be approved.
