Hon. Emeka Ihedioha
The Niger Delta Development Commission (NDDC) Wednesday said it would require about N1.3 trillion to enable it fund several ongoing capital projects in the oil rich region. This is besides the total sum of N250.857 billion it has proposed to spend in the 2012 fiscal year.
Chairman of the commission, Dr. Chris Oboh, disclosed this when he appeared before the House Committee on NDDC to defend the 2012 budget proposal of the commission.
Oboh said the major problem facing the NDDC was inadequate funding of its capital projects.
He urged the lawmakers to make available to the commission, extra funds to tackle the challenges arising from the devastating flood that has ravaged parts of the Niger Delta.
Chairman, House Committee on NDDC, Hon Nicholas Mutu, however expressed displeasure over the budgetary process of the NDDC, saying it does not show inclusiveness of other stakeholders.
According to him, NDDC budgets should be structured along the Federal Government’s Mid-Term Expenditure Framework (MTEF) to boost the transformation of the region.
Also yesterday, the 2012 budget of the NDDC scaled the second reading stage on the floor of the House of Representatives.
The N250.857 billion budget has N117 billion for capital expenditure while N232 billion is for recurrent expenditure.
In considering the budget, the lawmakers expressed disappointment over its late presentation and observed that it had become a tradition for the NDDC budget every year.
Deputy Speaker of the House, Hon. Emeka Ihedioha who presided over the session urged the commission to endeavour to execute its projects as proposed in the budget to ensure that the people of the oil- rich region felt the positive impact of the commission.