ABUJA — President Goodluck Jonathan, yesterday, presented a budget proposal of N322.6 billion for the Niger Delta Development Commission, NDDC, for the 2014 fiscal year to the Senate.
The budget forwarded to the Senate through the Senate President, Senator David Mark, showed a 2.1 per cent increase of about N7 billion over the 2013 budget for the ministry which was N315.85 billion.
President Jonathan in the letter read by the presiding officer, Senator Mark, stated: “Pursuant to section 18 sub section one of the NDDC establishment Act, I wish to submit the 2014 estimates of expenditure and income of the Commission for the kind consideration and approval of the National Assembly.
“The Commission has submitted a budget proposal of N322 billion for 2014 as against N315 billion in 2013 presenting an increase of about 2.1 per cent over last year’s budget.
“Furthermore, the budget is made up of personal expenditure of N15.80, 73 billion only.”
According to the budget estimate, recurrent expenditure stood at N10.186 billion, capital expenditure, N2.281 billion, while project development expenditure was expected to gulp N295.051 billion.
The President stated that the sources of revenue for the proposed budget included revenue brought forward, which was N23 million, and federal government contribution excess crude arrears of N50 million.
Other areas included oil companies’ contributions and others which was N130 million, ecological fund of N57 million, other internally realised income of N100,000, million, and unpaid arrears from 2012 approved budget of N12.5 million, which summed up to N322.6 billion
“While hoping that this request will receive the usual expeditious consideration of the Senate, please, accept the assurances of my highest regards,” Jonathan stated.
