President Goodluck Jonathan yesterday presented the N299.5billion 2015 Budget of the Niger Delta Development Commission, NDDC.
The budget is N23.1billion below agency’s N322.6billion budget in 2014.
The President, in a letter read on the floor by Senate President, David Mark, said he was acting pursuant to Section 18 (1) of the NDDC Establishment Act.
He asked for the kind consideration and approval of the budget by the Senate.
He said: “The Commission has submitted a budget proposal of N299.526 billion for 2015 as against N322.600 billion only in 2014, representing a decline of 7.1 percent over last year’s budget.”
The budget, according Jonathan, is made up of personnel expenditure of N16,133,370, recurrent expenditure of N10,423,031,000; internal capital expenditure of N1,879,076,000 and capital projects development expenditure of N271,089,900,000.
The revenue is to be sourced from Federal Government contribution of N70billion; unpaid arrears by the Federal Government of N20billion; and oil companies’ contribution and others of N160billion and brought forward of N10billion.
He further explained that the budget would be funded with Ecological Fund of N40billion and other internally-realised income estimated at N100million.
The absence of the Chairman, Senate Committee on Appropriation, Senator Ahmed Maccido, stalled the formal presentation of its report on the 2015 National Budget on the floor of the upper chamber.
Maccido was not available to present the document when he was invited to do so by the Senate Leader, Victor Ndoma-Egba, which necessitated the postponement to the next legislative day since he did not delegate any member of the committee to do so on his behalf.
The Petroleum Industry Bill, PIB, also suffered a similar fate, as the chairman of the Joint Committee on Petroleum (Upstream and Downstream) and Gas Resources, Senator Emmanuel Paulker, was also not present at the session.


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