The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, has said that the primary objective of the 2024 budget is to sustain our robust foundation for sustainable economic development.
Ogbuku stated this in a release made available to TPCN by the Director, of Corporate Affairs, Pius Ughakpoteni, which revealed that the NDDC presented its budget proposals of N1.911 Trillion for 2024 to the Senate Committee on the NDDC at the National Assembly.
Presenting the proposals to the Senate Committee, chaired by Senator Asuquo Ekpeyong, Ogbuku explained that the 2024 appropriation was anchored on the theme: “Budget of Renewed Hope” in line with the Federal Government’s Budget.
According to him, “the proposed Budget seeks to move the Commission from transaction to transformation and it is a product of participatory budgeting process that involves all the major stakeholders in the Niger Delta Region.
“In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget is the present management’s commitment to a greener future. An aggregate expenditure of ₦1.911 Trillion is proposed for the Niger Delta Development Commission in 2024.
“The revenue estimates include an opening balance of ₦12 billion. Unpaid arrears and recoveries from Federal Government Agencies of ₦170billion. ₦1 trillion is expected to be sourced from development/commercial banks, Federal Government statutory transfers of ₦324 billion. Expected ₦25 billion from Ecological fund. Expected Revenue of ₦375 billion from the Oil & Gas Companies, ₦5 billion is expected from other sources (grants, bank interests and sales of boarded items).
Ogbuku emphasized that “investing in critical infrastructure is a key component of our fiscal strategy under the 2024 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 is 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.
“Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in regional roads to enhance transportation and other sectors. This marks a critical step towards diversifying our source of funding as we intend to source an aggregate sum of ₦1trillion to fund ongoing legacy projects of the Commission in 2024. The sum is to be outsourced from the development/commercial banks etc.
“The main emphasis will be the completion of as many ongoing legacy projects that have advanced greatly. It is our expectation that by the end of the 2024 fiscal year, we would have completed more than 200km of roads across the Niger Delta region.”
The NDDC MD also commended the 10th National Assembly’s firm commitment to stop the circle of delayed annual budgets.
His words, “I am confident that with our renewed partnership, the deliberations on the 2024 Budget shall be completed soon to pave the way for the 2025 budget as this present Management is poised to normalize the NDDC budget calendar.”
Reviewing the activities of the NDDC in the 2023 budget year, Ogbuku said that the Commission had initiated many programs such as the Holistic Opportunities for Programme and Engagement, and Project HOPE.
“We came up with Project HOPE to properly train and empower the Youths and Artisans of the Niger Delta Region and maintain a database that would afford equal opportunity to all Niger Deltans.
“In the area of infrastructure, we came up with “Operation Light Up Niger Delta Region”; this has seen a reasonable number of the communities being lit up using solar-powered street lights, which have boosted the economic activities of communities at night.”
Related Post
- Project Hope: NDDC Receives Over 100 Hectares from Akwa Ibom Community
- NDDC saves Rivers Community From Darkness
In the area of healthcare, he noted that “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 stakeholders to improve health 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 syllabus to schools in the 9 States in the Niger Delta region.”
Ogbuku stated that the hallmark of the present Management’s tenure lay in its approach to development and collaboration which had seen the commissioning of five flagship projects within 10 days.
He listed the projects as the 9km Obehie-Oke-Ikpe road in Ukwa West LGA, Abia State; the 27.5-kilometre Ogbia -Nembe Road, constructed in partnership with Shell Petroleum Development Company, SPDC; the 1×15MVA 33/11KV electricity injection substation in Amufi, Ikpoba-Okha Local Government Area in Benin City, Edo State; the 45km double-circuit 33KV feeder line from Omotosho Power Station to Okitipupa, Ondo State and the NDDC 6km Iko-Atabrikang-Akata-Opulom-Ikot Inwang-Okoroutip-Iwochang road and 600m Ibeno Bridge in Ibeno LGA, Akwa Ibom State.
