The Nigerian Senate has adjourned its plenary session and gone on recess until Tuesday July 2, 2024.
Senate President Godswill Akpabio made this announcement during the plenary session on Tuesday, stating that the recess is to allow lawmakers to participate in activities marking the 2024 Democracy Day and the Senate's end-of-session break.
The 10th National Assembly will be one year in office on Thursday, June 13, 2024. Prior to the recess, the Senate passed a total sum of N1.911 trillion as the 2024 statutory budget for the Niger Delta Development Commission (NDDC).
The budget was approved after the Senate considered the report of its committee on NDDC during plenary. The chairman of the Senate Committee on NDDC, Senator Asuquo Ekpeyoung (APC–Akwa Ibom South), presented the report.
According to the report, the NDDC proposes to borrow N1 trillion to fund its 2024 budget. However, senators faulted the proposed borrowing, stating that it did not follow due process.
They urged the commission to work with relevant government agencies like the Debt Management Office and comply with the Fiscal Responsibility Act on the process of loan approval.
The report also outlined the commission's projected expenditures for 2024, including N38.545 billion for personnel costs, N29.246 billion for overhead costs, and N8.785 billion for internal capital.
Additionally, the NDDC projected N324 billion as the federal government's contribution and N25 billion from the Ecological Fund.
