BUHARI SEEKS NATIONAL ASSEMBLY APPROVAL FOR $2.78BILLION EUROBONDS

In a related development, the President requested Senate consideration and approval of N346 billion as the 2018 budget proposal of the Niger Delta Development Commission (NDDC).,the figure is N18 billion lower than the N364 billion budget approved for the commission in the 2017 fiscal year.

Penpushing reports that, a breakdown of the proposed amount shows a total recurrent expenditure of N32 billion and cumulative capital provision of N314 billion, while Buhari listed sources of revenue for the commission in 2018 to include federal government contribution (N81.8 billion) and unpaid arrears by the Federal Government (N33.9 billion).

Others are contributions from oil companies and others (N220 billion) and other “realised income” (N150 million). He also presented an Executive Bill titled ‘Suppression of Piracy and Other Maritime Offences Bill, 2018″ to the Senate for consideration and passage.