Business
NDDC Budgets N12bn For Rivers
Rivers State is billed to earn the lion share in projected oil production revenue, if the budget presented by the Niger Delta Development Commission (NDDC) to the House Committee on NDDC for 2009 sails through
Following projection made from expected revenue accruing from oil production, the state is billed to earn about N12,147, 042,200ahead of Abia, N7,717,203, 420 followed by Akwa-Ibom N5,025, 262, 083, Cross River N4,898,064,664.
Ondo is to get N2,029,174, 352 followed by Bayelsa N734, 852,916, Edo N498,955,378mand Delta N131, 379,865.
The commission’s Acting managing director, Pastor Aginighan told the House committee that a total of N33.8billion or 35 per cent of the total revenue expected from production of oil is from the states.
Of the N97billion budgeted for 2009, about N19.3billion is being shared equally among the nine states of Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo and Rivers .
This shows a significant increase of 8.3 percent of the 2008 budget of N89.2billion.
According to Pastor Aginighan, the increase is as a result of the 2008 excess crude oil arrears appropriated for the agency in the 2009 budget.
His words, “ the focus for this year’s budget is to adequately provide for all on-going projects and the completion of building projects including schools and health centres, paving way for full master plan based budgeting, using the medium term sector strategy (MTSS) and Medium Term Expenditure Framework (MTEF) budgeting tools for 2010-2012 plan period” he said.
He reiterated that the budget which is the second year of the foundation phase of the Master Plan to last until 2012 aims at providing physical infrastructure in the region, stimulate the region’s economy, reduce poverty as well as create the enabling environment for industrial development.

A housing estate already completed under the Akwa Ibom State Government-assisted housing project in all the 31 Local Government Areas of the state.
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