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The Senate approved the N1.911 trillion budget of the Niger Delta Development Commission (NDDC) for the 2024 fiscal year.
The senate also passed the N98.5 billion Federal Capital Territory (FCT) Supplementary Appropriation Bill for 2024 and concurred with the House of Representatives to approve the South East Development Commission (SEDC) Bill.
The upper chamber passed the NDDC appropriation bill after reviewing a report from its Committee on NDDC, presented by Chairman Senator Asuquo Ekpenyong.
In response, the interventionist agency commended the federal lawmakers for swiftly passing the budget, stating that it would enable them to continue delivering essential infrastructure and services to the people of the Niger Delta region.
The budget includes a borrowing plan of N1 trillion for funding "legacy" projects in the Niger Delta region. The lawmakers also allocated N835.2 billion for project development, N38.5 billion for proposed personnel, N29.2 billion for overhead costs, and N8.7 billion for internal capital expenses.
On Monday, the budget was presented to the Senate Committee on NDDC with a promise to address issues such as unemployment, lack of education, poor healthcare, road construction, and overall economic development in the Niger Delta region.
Ekpeyong, who presented the report at Tuesday’s plenary, stated that his committee carefully examined the budget estimates proposed by the NDDC and urged his colleagues to support its passage. However, he did not provide the budget performance of the NDDC in the previous year.
Senate President Godswill Akpabio emphasized the need for due process in the NDDC's borrowing plan and assured that the funds would be used judiciously. The Senate also approved a sum of N98.5 billion in the FCT Supplementary Appropriation Bill, 2024, following the consideration of the report of the Senate Committee on FCT.
The Senate adopted the conference report of the SEDC Bill, which aims to establish the South East Development Commission for managing funds from the federation account for the region's development.
