Senate passes NDDC’s 2015 Budget

Senate yesterday passed the 2015 budget estimate of N299,526,463,156.12k of the Niger Delta Development Commission, NDDC, sent to it by President Goodluck Jonathan.
This is N23billion less than the 2014 budget which was N322,600,000,000, representing a decline of 7.1 percent of last year’s budget.
Deputy Senate president Senator Ike Ekweremadu who presided over the session said he hoped the budget will help in both infrastructural and human development of the zone.
Further breakdown of the 2015 budget proposal revealed that the sum of N16,133,377,133 is earmarked for personnel expenditure, N10,423,319,000 earmarked for overhead expenditure, and N1,879,769,000.12 mapped out for capital expenditure (internal).
The Senate Committee on Niger Delta revealed that the Budget will be financed from a projected revenue of N300,100,000,000.
Nigerian Pilot reports that the above sum is drawn from the revenue brought forward of N10,000,000,000 and federal government contribution of N70,000,000,000 federal government contribution from unpaid arrears of N20,000,000,000.
Others are the oil companies contribution (and others) of N160,000,000,000, ecological funds of N40,000,000,000 and other internally realised income of N100,000,000.
The committee chairman, Senator James Manager while presenting the budget before the Senate for its approval, disclosed the committee’s considerations.
“The committee considered the proposals, noted that the nonprofit expenditure (personnel, overheads and internal capital) totaling N28,436,465,133.12 represents 9.5 percent of the total proposed budget for the year as against 8.43 percent in 2004. The increase in personnel provision is due to envisaged increase in the staff strength of the commission and promotion.
“The projects development expenditure as proposed is N271,089,998,023. This represents 90.5 percent of the total proposed budget for the year as against 91.46 percent in 2004.
“It is pertinent to mention that due to the peculiar nature of the NDDC Budget, the Committee finds that it is necessary to separate the capital budget meant for use internally by the Commission from capital budget meant for project development,” Manager added.
In its recommendations, the committee advised that the budget should be operative with effect from January 1, 2015 to December 31, 2015.