The Niger Delta Development Commission (NDDC) has proposed a budget of N1.911 trillion for 2024, aptly named the “Budget of Renewed Hope.” The budget was presented by NDDC Managing Director Samuel Ogbuku to the House of Representatives Committee on NDDC in Abuja on Tuesday.
Ogbuku described the primary goal of the budget, stressing the need for sustainable economic development, which aligns with the commission’s founding mission. “A critical focus of this budget is the present management commitment to a greater future,” he stated.
The commission reported an aggregate revenue inflow of N683.2 billion as of April 30, representing approximately 78% of the targeted N876 billion. This included N146.4 billion from the Federal Government, exceeding its target at 122%, and N394.5 billion from oil and gas companies, which met 14% of its target. Additionally, N105 billion was carried forward from 2023.
Despite facing various challenges, Ogbuku assured that the commission continues to meet its obligations. The proposed personnel budget for 2024 is set at N38.5 billion, while overhead costs are projected to be managed at N29.2 billion.
Rep. Suenu Ibori, Chairman of the House Committee on NDDC, underscored the importance of the budget in ensuring the organization’s success and progress. “It is our responsibility as a committee to scrutinize your budget. Our goal is to ensure that they are realistic and achievable and in the best interest of the region,” she said.
Ibori praised the NDDC for its improvements, particularly in health and education, and highlighted the commission’s role in driving regional development. She also commended the NDDC’s “Operation Light Up the Niger Delta” initiative, which has majorly benefited many communities, though she noted that there is still room for further progress.
