Managing Director of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku has presented a N2.28 trillion budget estimate for 2021/2022/2023 before the House of Representatives Committee on NDDC.
Breaking down the consolidated budget estimates christened: “Budget of Rewind to Rebirth”, the NDDC boss said he proposed an aggregate expenditure of N485.7 billion for 2021, N928.2 billion for 2022, and N876 billion for 2023.
Ogbuku said the revenue estimate includes cash brought forward of N35.5 billion in 2021, N3 billion in 2022, and N5 billion in 2023.
He added: “Federal Government statutory transfers of N85 billion for 2021 and N150 billion for 2022 and 2023 each fiscal year. Unpaid arrears of N100 billion from the Federal Government for 2021, N504 billion for 2022, and N450 billion for 2023 being expected revenue from the Federal Government through recovery by the EFCC from oil companies.
“Expected revenue of N250 billion from the oil and gas companies for 2021, and also for 2022 and also for 2023 fiscal year; expected N15 billion from the ecological fund for 2021, N20.7 billion for 2022 and N20 billion for 2023 and N200 million from internally generated sources (bank interests and sales of boarded items) for 2021 while N500 million is expected in 2022 and 2023 respectively”.
Ogbuku put the proposed budget estimates for 2021 personnel at N28.2 billion while N34.2 billion is proposed for 2022 and 2023.
He said the increase is meant to reflect the new staff’s strength as well as outstanding promotion arrears owed to staff and those due to be promoted.
“We shall sustain our efforts in managing our overhead costs. Accordingly, overhead costs are projected at N14.5 Billion for 2021 and N16.5 billion for 2022, and N17.4 Billion for 2023. Investing in critical infrastructure is a key component of our fiscal strategy under the 2023 Budget proposals.
“The present management has noted that the commission alone would not be able to effectively address the development challenges in the Niger Delta region and are re-navigating its process of intervention by adopting a Public-Private-Partnership model as a vehicle to drive sustainable development in the Niger Delta region.
“Accordingly, an aggregate sum of N440 billion is proposed for capital projects in 2021 while N873 Billion is proposed for 2022 and N820.5 billion for 2023. N2.9 Billion is proposed for the Internal Capital (Fixed Assets budget for 2021 while N3.7 billion for 2022 and 2023
“Although the 2023 budget is being presented late to this Honorable Committee, we are confident that we shall strive to channel the lean resources to impactful projects/programmes”, he said.
Chairman of the House Committee on NDDC, Hon. Olubunmi Tunji Ojo said the House has a responsibility to scrutinise every detail of the proposals to ensure the best decision is made for the organisation.
“It is pertinent to state that as we would be analysing the proposals, our ultimate goal is to ensure that they are realistic, achievable, and, most importantly, in the best interest of all concerned.
“It is my desire and my hope that the budgets being considered, when passed, would be made to work for the people of the Niger Delta region. We know the needs of the region and I think it is time the NDDC must play its role”.
