By Ezrel Tabiowo
Abuja
Niger Delta Development Commission (NDDC) has proposed to spend the total sum of two hundred and ninety nine billion, five hundred and twenty six million, four hundred and sixty three thousand, one hundred and fifty six naira, twelve kobo, for the fiscal year of 2015.
The commission had last year budgeted three hundred and twenty two billion, six hundred million naira, representing 7.1 per cent reduction due to the reduction in oil value in the international market.
The proposal was contained in a letter President Goodluck Jonathan forwarded to the Senate yesterday for consideration and read on the floor by the Senate President, David Mark.
According to the letter, out of the amount, the personnel expenditure is N16,133,37,000, while recurrent expenditure is N10,423,31billion.
Also, the budget has an internal capital expenditure of N1,879,76,000, while the capital projects development expenditure of N27,189,99, 000.
Meanwhile, the fund is derived from the following: ten billion naira revenue brought forward from last year’s budget for the commission, seventy billion naira contribution from the federal government.
Others are: N20 billion unpaid arrears by federal government, N160 billion contributions from oil companies and others, ecological funds contribution of N40 billion and other internally generated revenue amounting to N100 million.
In a related development, President Jonathan also yesterday forwarded to the National Assembly, a bill for an Act to establish the National Agency for Great Green Wall through a letter to that effect.
The Senate has also received the 2015 budget for the Federal Capital Authority (FCT) for consideration from the presidency.