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Sunday, July 14, 2024
HomeNewsNDDC Plans N1 Trillion Spend on 'Legacy Projects' in Niger Delta

NDDC Plans N1 Trillion Spend on ‘Legacy Projects’ in Niger Delta

The Niger Delta Development Commission (NDDC) is proposing to spend N1 trillion on “legacy projects” in 2024, according to the draft budget submitted to the National Assembly.

The N1 trillion is part of the N1.8 trillion budget for the 2024 fiscal year.

While defending the budget before the House of Representatives Committee on NDDC, Samuel Ogbuku, the Managing Director of NDDC, stated that the funds will come from development and commercial banks.

“We have strategically made provisions towards diversifying our source of funding as we intend to source an aggregate sum of Nitrillion to fund ongoing legacy projects of the Commission in 2024,” Mr. Ogbuku stated to legislators.

The MD did not disclose the specifics of the projects, but they come at a time when Nigeria is dealing with a high national debt.

Sodiq Soda
Sodiq Soda
I’m Sodiq Oluwadamilare Soda, a Web Developer/Web Design also a Graphic Designer.
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