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The Senate adjourns plenary session until July 2, 2024, to allow participation in 2024 Democracy Day and end-of-session break.
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The Senate approved a N1.911 trillion budget for the Niger Delta Development Commission (NDDC), but criticized the proposed N1 trillion borrowing for not following due process.
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NDDC’s 2024 budget includes N38.545 billion for personnel costs, N29.246 billion for overhead costs, and N8.785 billion for internal capital.
EKO HOT BLOG reports that the Senate has adjourned its plenary session and will resume on Tuesday, July 2, 2024.
Senate President Godswill Akpabio announced the adjournment during Tuesday’s plenary session in the Red Chamber.
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Akpabio stated that the recess allows lawmakers to participate in the 2024 Democracy Day activities and take their end-of-session break, following their inauguration on June 13, 2023.
The 10th National Assembly will mark its first year in office on Thursday, June 13.
Earlier in the session, the Senate approved a total sum of N1.911 trillion as the 2024 statutory budget for the Niger Delta Development Commission (NDDC).
The budget approval came after the upper chamber reviewed the report from its NDDC committee, presented by Senator Asuquo Ekpeyoung (APC–Akwa Ibom South).
The report indicated that the NDDC proposes to borrow N1 trillion to fund its 2024 budget.
However, senators criticized the proposed borrowing, noting it did not follow due process.
They urged the commission to collaborate with relevant government agencies, such as the Debt Management Office, and adhere to the Fiscal Responsibility Act for loan approvals.
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The report detailed that the commission plans to allocate N38.545 billion for personnel costs, N29.246 billion for overhead costs, and N8.785 billion for internal capital.
The NDDC also projected receiving N324 billion from the federal government and N25 billion from the Ecological Fund.
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