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Senate releases sectoral details of 2024 budget

by Akeem Adeyemi
Senate releases sectoral details of 2024 budget

Nigeria’s 10th Senate has recently released the sectoral details of the year 2024 budget.

President Ahmed Bola Tinubu has recently presented an N27.5 trillion budget, titled: “Budget of Renewed Hope,” to the joint members of legislators of the upper and lower house of the National Assembly.

However, the Ministries of Works, Finance, Defence and others, got lion’s shares of the N8.7 trillion capital component of the N27.5 trillion 2024 budget as contained in sectoral allocation details released by the Senate Committee on Appropriation on Friday.

In the proposed allocations, the Ministry of Works got N521.3 billion, followed by the Federal Ministry of Finance, with N519.9 billion, while N308. 2 billion was earmarked for the Ministry of Defence. Similarly, the Federal Ministry of Health and Social Welfare, got N304.4 billion, while the Ministry of Education, got N265.4 billion.

Others were: Ministry of Power, N264.2 billion; Government-owned Enterprises N820.9 billion; TETFund N665 Billion, Housing and Urban Development N96.9 billion, Water Resources N87.7 billion and Police Affairs N69 Billion.

The National Assembly under statutory transfers got N198 Billion; Niger Delta Development Commission N324.8 billion, Universal Basic Education N251.4 billion, National Judicial Council N165 Billion, North East Development Commission N126 Billion and Basic Health Care Provision Fund N125.7 billion.

Under Capital Supplementation, Zonal Intervention otherwise called constituency projects for federal lawmakers, got N100 Billion, Special Projects 108 Billion; Contingency (capital) N200 Billion, Aid and Grants funded projects, N685.6 billion and the National Social Investment Programme Agency N100 Billion, among others.

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