NDDC to borrow N1 trillion for Budget

By Linda Ike

The House of Representatives has commenced the consideration of N1.911 trillion 2024 budget of the Niger Delta Development Commission (NDDC).

At the budget defence on Tuesday, Managing Director of NDDC, Samuel Ogbuku said the commission plans to borrow N1 trillion from commercial and development banks for the budget

The Commission said it is also expecting N170 billion as arrears owed it by the federal government and recoveries by government agencies, federal government statutory contribution of N324.8 billion, ecological fund of N25 billion, Oil Companies contribution of N375 billion and IGR of N1 billion.

Ogbuku disclosed that the commission planned to find it’s legacy projects with the N1 trillion to be borrowed from the banks, while about N835. 222 billion will be spent on other development projects.

According to him, the commission is conscious of the fact that investing in critical infrastructure is a key component of the fiscal strategy under the budget, adding that the management is reinventing it’s process of intervention by adopting a public private partnership model as a vehicle to drive sustainable development in the Niger Delta region.

In line with this, he said, the commission has developed a partnership with the Industrial Training Fund to gainfully engage the youth of the region to reduce crime, economic sabotage.

Speaking on the performance of the commission since the assumptions of office of the current board, Ogbuku said the operation light up the Niger Delta region has seen reasonable number of communities being lit up using solar powered street light which has boosted economic activities of the communities.

He said further that through its free medical. Mission, the commission has provided health solutions to over two million Niger Deltans across communities in the Region and remains committed to working with relevant stakeholders to improve healthcare and all other criticat sectors that impact positively on the overall development of the health and
weliness of the people of the Region.

He said the commission awarded foreign scholarships to 750 individuals between 2023-2024 (for 2022, 2023 & 2024 years) and provided educational grants to 84 individuals and is in the process of distributing 45,000 Ulesson tablets preloaded with Nigerian and WAEC syllabus to schools in the 9 States in the Niger Delta region.

“In the area of our youth training, We came up with Project HOPE to put together a proper data base of the Youths and Artisans of the Niger Delta Region. It will aid us in engaging these youths in their area of competence. Project HOPE is also an of- shoot of the Renewed HOPE of Mr. President. as it made us look out for opportunities on how we can gainfully engage the Youth of the region.

“In the area of infrastructure, we came up with “Operation Light Up Niger Delta
Region”, this has seen a reasonable number of communities being lit up using solar-powered street lights which have boosted the economic activities of the communities at night.

“Health is wealth, and good health remains at the core of human development. The NDDC through the free medical mission has provided health solutions to over two million Niger Deltans across communities in the Region and remains committed to working with relevant stockholders to improve healthcare and all other critical sectors that impact positively on the overall development of the health and wellness of the people of the Region.

“In Education, we have awarded foreign scholarships to 750 individuals between
2023-2024 (for 2022, 2023 & 2024 years] and provided educational grants to 84
individuals. Additionally, we are distributing 45,000 Ulesson tablets preloaded with Nigerian and WAEC syllabi to schools in the 9 States in the Niger Delta region.

“In the heart of the Niger Delta region, a new dawn of progress and development is emerging under this present Management as we are redefining the standards of governance and effectiveness in driving positive change in the region. The hallmark Of this present Management’s tenure lies in its uncommon approach to development and collaboration. Commissioning over 5 flagship projects within 10
days

In response to the frequent flooding challenges faced by Niger Deltans. He explained that the NDDC’s proactive approach in addressing the needs of the affected communities through initiatives underscores the Commission’s commitment to enhancing emergency response and resilience in the Niger Delta region.

“We have commenced construction of a Multipurpose Emergency Shelter with a capacity of over 1000 accommodations, designed to serve as a refuge during flood emergencies.

“The facility includes essential amenities such as a school, hospital, cafeteria, police post, and recreation center, aimed at providing comprehensive support to the community.

“Once completed, the Multipurpose Emergency Shelter will play a vital role in
offering temporary accommodation and necessary services to the population in the event of emergencies in the region.

He said further that the commission was redefining the standards of governance and effectiveness in driving positive change in the region, commissioning over 5 flagship projects within 10 days.

He examined that in response to the frequent flooding challenges faced by Niger Deltans, the commission embarked on the clearing of waterways to page way for easy flow of water during heavy downpours as well as the construction of multipurpose emergency shelters with the capacity to accommodate 1000 persons.

He said the aggregate revenue of the commission in 2023 was N876 Billion naira and was projected to fund the 2023 Budget “Budget of Rewind to Rebirth” This comprises Overhead costs of N174 Billion, personnel cost of N34.2, Internal Capital cost of N3.7 Billion and Capital cost of 820.5 Billion.

On the 2023 budget, he said as of April 30th, 2024, the Commission’s actual aggregate revenue inflow was N683.2 Billion naira, approximately 78 percent of the targeted N876 Billion naira, comprising N146.4 billion representing (122%) from the Federal Government and N394 billion representing (141%) from Oil & Gas Companies.

Chairman of the House Committee, Hon. Erhiatake Ibori-Suenu said the budget was crucial to the success of the Commission, stressing that the House will carry out a diligent consideration of the presentation, scrutinizing every detail.

She said the NDDC has brought remarkable development to the Niger Delta region, stressing that the partnership with the state government in the region has continued to bring tremendous improvement to the region.