[dropcap]T[/dropcap]he Senate, on Thursday, approved N346.3 billion as the 2019 budget for the Niger Delta Development Commission. This is against the N409 billion proposed by President Muhammadu Buhari.
This comes a day after the House of Representatives approved the same figure.
The president had in November 2019 transmitted the 2019 and 2020 budget estimates for the commission.
Although details of the proposed budget was not stated then, the chairman of the Senate Committee on Niger Delta, Peter Nwabaoshi, said Mr Buhari presented a budget proposal of N409.9 billion for the NDDC for the 2019 fiscal year.
In the budget, the president proposed, Personnel Expenditure – 22,338,190000, Overhead Expenditure – 13,466,810000, Internal Capital Expenditure – 4,083,000,000 and Development Projects 369,995,000,000.
However, presenting the report of the committee, Mr Nwabaoshi noted that the developmental aspect of the budget is basically a rollover of the 2018 Budget which is in furtherance of the drive to ensure completion of ongoing projects.
For revenue projections of the Commission, he explained that N128.6 billion was stated as statutory contribution by the federal government to the NDDC .
Since the proposed federal government contribution for year 2019 is higher than the amount approved by the National Assembly for the year, the Committee adopted N100.1 billion, he said.
He also said N35 billion stated as unpaid arrears by the Federal Government was not considered as part of the Commission’s revenue projection by the Committee because the amount was not approved in the 2019 Appropriations Act by the National Assembly.
The Committee recommended that the lifespan of the budget be extended to enable the Commission achieve full implementation – accordingly, the 2019 NDDC Budget is recommended to elapse on May 31, 2020.
Details of the budget
Revenue Profile:
a. Revenue Brought Forward – 11,000,000,000
b. Federal Government contribution – 100,188,900,000
c. Federal Government contribution (ie Unpaid arrears by Federal Government) – 0
d. Oil companies contributions and Nigeria Liquefied Noturdl Gas Ltd (NLNG) and others – 230,000,000,000
e. Ecological Funds – 5,000,000,000.
f. Other Internally Realized Income – 200,000,000
Total revenue – 346,388,900,000
* Personnel Expenditure – 2,338,190,000.
* Overhead Expenditure – 13,466,810,000
* Internal Capital Expenditure – 4,083,000,000
* Development Projects – 306,500,900,000
TOTAL EXPENDITURE: 346,388,900,000