NDDC defends N1,911tr budget

THE Niger Delta Development Commission (NDDC) has defended It is N1.911 thousand billion 2024 budget Before THE Senate Committee on THE NDDC.

THE Manager Director of THE agency, Doctor Samuel Ogbuku, present THE estimates of THE tax document has THE senators, declaring that N100 billion was reserve has adjust a few of It is accumulated debts.

Dr. Ogbuku do THE presentation In THE business of high management staff of THE commission And THE NDDC advice members.

He said THE budget was prepared has to prioritize improvement In security, job creation, youth And women empowerment, social well-being, education, And Infrastructure, among other areas.

He said, "THE propose budget look for has move THE Commission Since transaction has transformation And was A product of participatory budgeting process that implied all THE major stakeholders In THE Niger Delta Region with THE theme "Budget of Renewed Hope Agenda."

"In preparing THE 2024 Budget, OUR primary objective has has been has sustain OUR robust foundation For sustainable economic development. »

He said A AGGREGATE spent of N1.911 thousand billion has has been propose For THE Niger Delta Development Commission In 2024.

He put THE the agency outstanding income Since last tax year has N12 billion; Arrears of by THE Federal Government And recoveries by federal agencies has N170 billion.

Ogbuku said THE agency propose has borrow N1 trillion; projected N324 billion as Federal Government contribution And N25 billion ecology funds.

THE Manager Director added that THE commission was waiting N375 billion as oil companies' contributions And projected N5 billion internally generated income.

On spent, THE NDDC foreseen has spend N38,545 billion as Staff Cost; Air cost of N29.246 billion And Internal Capital of N8,785 billion.

Ogbuku added that THE agency would be funds legacy projects with THE N1 thousand billion he for has borrow Since commercial And development banks while additional N835.222 billion.

He said, "As of April on the 30th, 2024, THE Commissions real AGGREGATE income influx was N683.2 billion, approximately 78% of THE target N876 billion.

"This understand N146.4 billion representative (122%) Since THE Federal Government And N394.5 billion representative (141%) Since Oil & Gas Businesses. We had A to carry Before of N105 billion Since 2023 representative (2117%).

" Invest In critical Infrastructure East A key component of OUR tax strategy below THE 2024 Budget Proposals.

"THE here management has note that THE Commission alone would be not be able has Effectively address THE development challenges In THE Niger Delta region.

"Towards This END, We are re-browsing It is process of intervention by adopt Private public partnership model as A vehicle has to drive sustainable development In THE Niger Delta Region.

"Therefore, has This END, We are In Partnership with THE Industrial Training Funds has in a remunerative manner to commit THE youth of THE region has reduce crime And economic sabotage. »

On debt, he said THE agency do A arrangement For payment of legacy debt In THE budget.

He said, "What We to have there East about A hundred million which We believe if We phase out This, maybe In THE following ten years, We should to have has been able has pay disabled most of all these legacy debts.

"A few of these debts are even 20 years old. A few of them are 15 years old, but they are not debts You can pay In A year.

"SO We just to want has phase them out In A period of maybe ten years. It is Why We do that estimated arrangement. »

He said THE agency was Also In Partnership with THE Niger Delta Bedroom of Trade, Trade, the mines, And Agriculture (NDCCTIMA). Several Organizations And State Governments to have approach THE Commission For partnerships, And We are Currently engaging them has refine THE process.

He said, "THE main accent will be THE completion of as a lot in progress legacy projects that to have advance greatly.

"He East OUR waiting that by THE END of THE 2024 tax year, We would be to have completed more that 200 kilometers of roads through THE Niger Delta Region, as We to understand that OUR people to have different expectations on THE Budget of NDDC, And they believe THE Commission will answer has all their requests.

"However, THE reality East that resources are limit, And No Budget can Never meet And satisfy THE aspirations of each And each member of THE rural communities.

"We can only devote OUR efforts has provide support For THE needs of THE bigger number of OUR people.

"OUR tax reforms duty introduce new performance management executives has regulate THE air cost.

"Therefore, only activities that are related has measurable programs will be approved.

"We to have moved far Since THE previously line item budgeting system has sectoral allocation of funds has encourage performance, And We are confident that This will shore...