In order to provide the best possible assistance for the development of the Niger Delta region, the Niger Delta Development Commission, or NDDC, has requested to be excluded from the federal government’s Treasury Single Account policy.
The call was made on Friday at the Board and Management Retreat in Ikot Ekpene, Akwa Ibom State, by Dr. Samuel Ogbuku, Managing Director of the NDDC. Ogbuku pointed out that while TSA has many advantages, it does not allow the commission to address new and pressing development needs in the area.
In his speech titled “A New Paradigm for Niger Delta Development:
Balancing Transparency with Agility,” Ogbuku stated that in order for the NDDC to carry out President Bola Tinubu’s renewed hope agenda, it would need to take bold and proactive measures to ensure the economic well-being and development of the populace.
He added that these measures would be realized through financial autonomy and the timely and flexible financial decisions that would accompany them.
“We support the NDDC’s removal from the TSA framework because of its distinctive features and the possible advantages of greater financial management autonomy,” he stated.
“Withdrawal from the TSA framework might speed up the approval and payment procedures, enabling the NDDC to carry out projects more effectively and satisfy the region’s pressing development needs.
In the Niger Delta region, there are particular and pressing development requirements that must be addressed by the NDDC. Making quick and flexible financial decisions is essential to effectively addressing changing regional issues.
“We will demonstrably deliver results faster and more efficiently than ever before,” the MD said, pleading with the federal government to provide the commission the latitude to function within a prudent, customized financial structure.
During his speech, Niger Delta Development Minister Abubakar Momoh repeatedly emphasized the necessity of a bond between the Ministry and the Chairman of the Commission, based on the deliverables that the NDDC has been allocated.
“This will make you earn their trust and buy-in and thus, results in you making more impact, and avoiding duplication of projects,” he added in his advice to the Commission to interact more with the various State Governments and Communities when choosing where to put projects.
The meeting, according to NDDC board chairman Mr. Chiedu Ebie, reflected President Tinubu’s goal to see the Niger Delta developed into a region of peace.