The Niger Delta Development Commission (NDDC) is proposing to spend N1 trillion on “legacy projects” in 2024, according to the proposed budget submitted to the National Assembly.
The N1 trillion is part of the N1.8 trillion budget for the 2024 fiscal year.
Samuel Ogbuku, the Managing Director of NDDC, while defending the budget before the House of Representatives Committee on NDDC, said the sum is to be sourced from the development/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 told the lawmakers.
The MD did not provide the details of the projects, however, it is coming at a time when Nigeria is grappling with high national debt.
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