Senate aporoves N299.5bn NDDC budget
The Senate, on Thursday, passed the 2015 budget of the Niger Delta Development Commission totalling N299.5bn.
The budget comprised of N271bn project (development) expenditure; N16.1bn personnel expenditure; N10.4bn overhead expenditure and N1.8bn as capital expenditure.
The Chairman, Senate Committee on Niger Delta, Senator James Manager, told his colleagues at plenary that the budget will be financed from a projected revenue of N300bn, part of which will be drawn from N160bn contribution from oil companies.
He also said the balance will come from the N70bn provision from the federal government; N40bn ecological funds; N20bn unpaid arrears by the federal government; N10bn being revenue brought forward and N100m Internally Generated Revenue.
The budget comprised of N271bn project (development) expenditure; N16.1bn personnel expenditure; N10.4bn overhead expenditure and N1.8bn as capital expenditure.
The Chairman, Senate Committee on Niger Delta, Senator James Manager, told his colleagues at plenary that the budget will be financed from a projected revenue of N300bn, part of which will be drawn from N160bn contribution from oil companies.
He also said the balance will come from the N70bn provision from the federal government; N40bn ecological funds; N20bn unpaid arrears by the federal government; N10bn being revenue brought forward and N100m Internally Generated Revenue.
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