President Jonathan Presents N322.600 Billion NDDC Budget to Senate

  Nigeria’s President, Goodluck Jonathan, submitted N322.600 billion for the 2014 budget of the Niger Delta Development Commission, NDDC, to the National Assembly. The budget which was submitted this morning was read by the Senate President, David Mark. Mr. Jonathan said the submission was in line with provisions of the NDDC 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. “This is pursuant to section 18 sub sections 1 of the NDDC Establishment Act,” he said. Mr. Jonathan said in the letter that the commission had submitted a budget of N322.600 billion for 2014 as against N315.8 billion in 2013. According to him, this represents an increase of about 2.1 per cent over the 2013 budget. The president explained that the budget was made up of personal expenditure of N15.8 billion, recurrent expenditure of N10 billion and capital expenditure of N2.281 billion. He said the budget also had a project development expenditure of N295.051 billion. He listed sources of revenue for the budget to include revenue brought forward, N23 million, and Federal Government contribution, submission by the president, N50 million. Other sources of revenue are Federal Government contributions; excess crude areas, N50 million; oil companies contributions and others, N130 million; and Ecological Fund, N57 million. The president expressed the hope that the Senate would give the requests the usual expeditious consideration.