The Senate has passed the sum of N453,200,000,000.00 as the budget of the Niger Delta Development Commission (NDDC) for the 2021 fiscal year.
The Senate passed the budget during plenary on Monday following the presentation of the report of the Senate Committee on Niger Delta Affairs by the Vice Chairman of the Committee, Senator Amos Kilawangs Bulus.
The Committee noted that the revenue profile of the Commission for year 2020 comprised of revenue brought forward of N12 billion, federal government contribution of N63,506,151,945.00, oil companies contributions of and Nigeria Liquified Natural Gas Limited (NLNG) and Others in the sum of NN317,493,848,055.00, Ecological fund of N60billion and other internally realized income of N200million.
It, therefore, recommended that the expenditure profile of the NDDC for year 2021 should include a personnel cost of N27.389 billion, Overhead expenditure of N13,937,244,107.00, internal capital expenditure of N2,793,755,893.00 and development projects at the cost of N409.080 billion.
It also recommended that the 2020 budget of the NDDC would terminate March 31, 2021, following which the Senate approved the recommendations.