SENATE PASSES 2016 NDDC BUDGET & PETROLEUM RESOURCES VARSITY INTO LAW
The Senate on Tuesday, June 23, 2016 has passed into law two legislation; the Bills that passed third reading on the floor of the Red Chamber include:
1) The 2016 Niger Delta Development Commission (NDDC) Budget proposal of N241, 114, 000, 000: 00 (Two hundred and forty one billion, one hundred and fourteen million naira, only).
The passage of the NDDC Money Bill was as a result of the presentation of Senate Committee on Niger Delta Report presented by the Committee Chairman, Sen. Peter Onwaoboshi (Delta North) after which the Chamber resolved into the Committee of Supply for the consideration of the Bill.
According to the breakdown of the NDDC 2016 financial proposal, the sum of N17, 560, 518, 930 : 00 (Seventeen billion, five hundred and sixty million, five hundred and eighteen thousand, nine hundred and thirty naira, only) is for Personnel Expenditure, N9, 980, 000, 000 : 00 (Nine billion, nine hundred and eighty million naira, only) is for Overhead Expenditure, N1, 300, 000, 000 : 00 (One billion, three hundred million naira, only) is for Internal Capital Expenditure and N212, 273, 481, 070 : 00 (Two hundred and twelve billion, two hundred and seventy three million, four hundred and eighty one thousand and seventy naira, only) is for NDDC Development Projects.
Senate President, Bukola Saraki called on the Executive arm of government to make judicious utilization of the budgeted funds for the overall development of the people and the Niger Delta region.
2) Federal University of Petroleum Resources, Effurun, Delta State (Establishment, etc.) Bill, 2016 (S.B. 226).
The legislation was passed into law following the presentation of the Report of the Senate Committee on Tertiary Institutions and TETFUND led by Sen. Binta Masi Garba (Adamawa North). The Upper Legislative Chamber resolved into the Committee of the Whole where it considered and approved clauses 1 to 28 as recommended or amended, Schedule one paragraphs 1 to 3, Schedule two paragraphs 1 to 3, Short and Long titles.
Accordingly, the Senate President rendered progress report on the Bill after which the Senate Deputy Majority Leader, Sen. Bala Ibn Na’Allah moved for the third reading of the Bill and it was read the third time and passed. The Senate President asserted that there is no way the country would achieve local content without domesticating the institutions and the passage of this Bill into law provides the much needed legal backing to the Petroleum Resources Varsity. He therefore announced the adjournment of the Chamber to Tuesday, July 12, 2016.