Jonathan sends N250.8b NDDC budget to Senate

Posted by admin Goodluck Jonathan (2010-present), Legislature, Niger Delta, Presidency, Senate Saturday, July 21st, 2012

President Goodluck Jonathan yesterday presented the 2012 budget proposal of N250.875billion of the Niger Delta Development Commission (NDDC) to the Senate.

Senate President, David Mark who read two separate letters from the President during plenary, also acknowledged the receipt of the Petroleum Industry Bill (PIB).

In his letter, titled: “Presentation of the 2012 Budget Proposal for the Niger Delta Development Commission (NDDC), ” Jonathan, said: “Pursuant to section 18(1) of the Niger Delta Development Commission (NDDC) Act of 2000, I wish to submit the 2012 estimate of the expenditure of the Commission for the kind consideration and approval of the National Assembly.

“The Commission has submitted a budget proposal of N250,857,930,000 only for 2012, as against N261,037,690,536 only approved in 2011, representing a decrease of 3.9 per cent.

“It is noted that the budget aims at consolidating the on-going efforts to effectively impact on the region.

“To achieve this, the 2012 budget will concentrate on the timely completion of on-going projects, hence there are no new projects planned for the year.”

The breakdown of the budget showed that N17.78 billion is for personnel and overhead, N232.06billion, is for development interventions and N1.018billion, is devoted to internal capital requirement.

Mark said the Senate would only consider the budget after resumption in September, since “we have consistently warned that budgets should be submitted on time,” he added.

-via Nationwp_posts