The Niger Delta Development Commission (NDDC) has presented its ambitious 2024 budget of N1.9 trillion to the House of Representatives Committee on the NDDC. This was done to accelerate development in the Niger Delta region.
Managed by Dr. Samuel Ogbuku, the NDDC plans to fund this budget through various sources including Federal Government contributions, oil companies’ contributions, ecological funds, arrears owed by the Federal Government, recoveries by Federal Government agencies, revenue brought forward, borrowings, and internally realized incomes.
Termed the ‘Budget of Renewed Hope’, the budget prioritizes sustainable economic development and environmental conservation in the region.
Key initiatives include investing in critical infrastructure through public-private partnerships, partnering with the Industrial Training Fund to engage youth in reducing crime and economic sabotage, and diversifying funding sources to secure approximately N1 trillion for ongoing projects.
The NDDC also plans to enhance performance management frameworks to regulate overhead costs and shift from line-item budgeting to sectoral allocations for measurable program outcomes.
Under the leadership of Dr. Ogbuku, the NDDC has emphasized transforming from a transactional to a transformational approach, focusing on youth empowerment, entrepreneurship support, infrastructure development, and healthcare improvement across Niger Delta communities.
Initiatives like Project HOPE for youth engagement, ‘Operation Light Up Niger Delta Region’ for community lighting, and extensive healthcare interventions reveale their commitment to holistic regional development.
The NDDC’s efforts have garnered support from the National Assembly, with Erhiateke Ibori-Seun, Chairman of the House Committee on NDDC, affirming the legislature’s commitment to transparency and enhancing the well-being of Niger Delta residents.
(PUNCH)