Senate passes N453.2 billion NDDC 2020 budget


The Senate has described as “erroneous” report that it approved fresh loan of N850 billion at the plenary on Tuesday.

The Senate on Monday passed into law, the Niger Delta Development Commission, NDDC’s N453,200,000,000 budget of 2020.

The approved budget for the Commission covers the capital, personnel expenditure, Overhead Expenditure, Internal Capital Expenditure and Development Projects for the period ending on March 31, 2021.

The passage of the budget was sequel to the consideration of the report by the Chairman, Senate Committee on Niger Delta Affairs, Senator Peter Nwaoboshi, Peoples Democratic Party, PDP, Delta North that the Senate do receive and consider the report of the Committee on the 2020 Budget estimates at the Committee of Supply.

Laying the report before the plenary, the Chairman of the Committee on Niger Delta, Senator Nwaoboshi said that the Committee carried out a holistic oversight of the Commission and noted that the developmental aspect of the budget is basically a rollover of the 2019 Budget which is in furtherance of the drive to ensure completion of ongoing projects.

He said: “That the Senate do consider the report of the Committee on Niger Delta Development Commission (NDDC) on the issue from the Statutory Revenue Fund of the Niger Delta Development Commission (NDDC), the Total Sum of N453,200,000,000.00 only.

Of the sum, N27,389,000,000 is for personnel expenditure; N13,937,244,107 is for overhead expenditure; N2,793,755,893, internal capital, and N409,080,000,000 for development projects for the period ending March 31, 2021.”

Get more stories like this on Twitter





Read from the Source link

(Visited 9 times, 1 visits today)

About The Author

You might be interested in

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *