Posted by In order to better serve the development of the Niger Delta area, the Niger Delta Development Commission (NDDC) has requested that the federal government remove it from the Treasury Single Account policy.
Dr. Samuel Ogbuku, Managing Director of the NDDC, made the request at Friday’s Board and Management Retreat in Ikot Ekpene, Akwa Ibom State. He pointed out that the commission misses out on a chance to tackle new and pressing development issues in the area, despite TSA’s many advantages.
In his statement titled “A New Paradigm for Niger Delta Development: Balancing Transparency with Agility,” Ogbuku mentioned that in order for the NDDC to fulfill President Bola Tinubu’s renewed hope agenda, it needs to be extremely proactive and bold in order to guarantee the people’s development and economic welfare. He went on to say that this can only be achieved through financial autonomy and the ability to make quick and adaptable financial decisions.
Because of its one-of-a-kind nature and the possible advantages of greater independence in financial management, he argued that the NDDC should no longer be subject to the TSA framework.
In order to better execute projects and address the region’s pressing development needs, the NDDC may find that removing themselves from the TSA framework speeds up the approval and payment processes.
Immediate and targeted development assistance for the Niger Delta area is the responsibility of the NDDC. To successfully respond to ever-changing regional concerns, quick and adaptable financial decision-making is essential.
In his request for federal funding, the MD emphasized that the commission needs leeway to function within a prudent, individualized budget, promising that “we will demonstrably deliver results faster and more efficiently than ever before.”
The Minister of Niger Delta Development, Abubakar Momoh, stressed the importance of a bond between the Commission Chairman and the Ministry in his remarks, with the bond being based on the NDDC’s assigned deliverables.
He further suggested that the Commission should involve local communities and state governments more in project site selection, saying, “this will make you earn their trust and buy-in and thus, results in you making more impact, and avoiding duplication of projects.”
According to Mr. Chiedu Ebie, Chairman of the NDDC board, the meeting demonstrated President Tinubu’s aim to turn the Niger Delta into a peaceful and prosperous region.