The budget was approved on Tuesday after the upper chamber considered the report of the Committee on NDDC presented by its chairman, Senator Asuquo Ekpeyoung.

In a statement released shortly after the Senate assented to the budget, Ogbuku said that the speedy passage of the budget would enable the NDDC to continue providing critical infrastructure and services to the people of the Niger Delta region.

The NDDC boss said that the 2024 appropriation, anchored on the theme: “Budget of Renewed Hope” would help the Commission to implement the Renewed Hope Agenda of President Bola Ahmed Tinubu.

“We are grateful to the Senate for their support and commitment to developing the Niger Delta region. The passage of this budget will enable us to continue providing critical infrastructure and services to the region’s people,” Ogbuku said.

The Managing Director also pledged to ensure that the funds allocated in the budget were used judiciously, following due process. He said that the NDDC would work tirelessly to ensure that its projects are completed on time and to the highest standards.

Ogbuku also called on all stakeholders in the Niger Delta region to support the NDDC in its efforts to develop the region. He said that the NDDC needed help to do it and needed the support and cooperation of all stakeholders in the region if it was to achieve its goals.

The NDDC boss, who appeared before the Senate Committee on Monday, informed the members that the Commission would invest in critical infrastructure as a key component of its fiscal strategy under the 2024 Budget Proposals.

He explained: “The present Management has noted that the Commission alone would not be able to effectively address the development challenges in the Niger Delta region and are re-navigating its process of intervention by adopting Public-Private-Partnership model as a vehicle to drive a sustainable development in the Niger Delta Region.

“Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in regional roads to enhance transportation and other sectors. This marks a critical step towards diversifying our source of funding as we intend to source an aggregate sum of ?1trillion to fund on-going legacy projects of the Commission in 2024.  The sum is to be out-sourced from the development/commercial banks etc.
“The main emphasis will be the completion of as many ongoing legacy projects that have advanced greatly. It is our expectation that by the end of the 2024 fiscal year we would have completed more than 200km of roads across the Niger Delta region.”

Ogbuku commended the 10th National Assembly’s firm commitment to stop the circle of delayed annual budgets.

Pius Ughakpoteni
Director, Corporate Affairs

June 11, 2024.