The Niger Delta Development Commission (NDDC) has proposed to allocate N1 trillion for “legacy projects” in the Niger Delta region as part of its 2024 fiscal year budget, according to documents submitted to the National Assembly.
Read Also:
Samuel Ogbuku, the Managing Director of NDDC, defended the budget proposal before the House of Representatives Committee on NDDC, stating that the funds would be sourced from development and commercial banks.
“We have strategically earmarked funds to diversify our financing sources, aiming to secure a total of N1 trillion to support ongoing legacy projects of the Commission in 2024,” Mr. Ogbuku informed the lawmakers.
While specific details of the projects were not disclosed during the session, the proposed expenditure comes amidst concerns over Nigeria’s substantial national debt.
