The Senate has approved N241.114billion budget for the Niger Delta Development Commission, NDDC.
The federal lawmakers, reduced the N260.064 billion budget by N18.95 bilion.
The reductions by the Senate were made in the capital projects amounting to 8.20 per cent cutting across the states and regional which did not affect the recurrent expenditure.
According to the approved NDDC budget, the personnel expenditure stands at N17,560bn; Overhead Expenditure is N9.98bn; Internal Capital Expenditure is N1.3bn, while Development Projects is N212.273bn.
Presenting the NDDC 2016 budget at the plenary yesterday, Chairman, Senate Committee on Niger Delta Affairs, Senator Peter Nwaoboshi, (PDP-Delta North), said that the breakdown of the N260.064bn submitted by President Muhammadu Buhari, puts personnel expenditure at N17.56bn; Overhead Expenditure is N9.98bn; Internal Capital Expenditure is N1.3bn, while Development Projects is N231.224bn
In the presentation, the Federal Government had put the revenue sources for its proposed budget for NDDC as: Revenue brought forward at N9.964bn; Federal Government contribution is N60bn; unpaid arrears by the Federal Government was put at N50bn; Oil companies contributions and others was put at N130bn; Ecological Funds, N10bn and Internally Realized income put at N100bn.
The total revenue as projected by the President was N260.064bn.
But the committee recommended a total revenue of N241.114bn.
The breakdown shows that revenue brought forward is N9.964bn; Federal Government Contribution is N41.05bn; Oil Companies Contributions and others is N180bn; Ecological Funds is N10bn, while other Internally Realized Income is N100bn.
