According to the 2024 Appropriations Bill that is presently being considered by the National Assembly, Bola Tinubu, Kashim Shettima, and their entourages are expected to spend a combined N15.961 billion on local and international travel.
The PUNCH stated that the N27.5 trillion “Budget of Renewed Hope” was presented to the National Assembly last Wednesday during a joint session.
Tinubu has allotted N6.992 billion for international travel and N638.535 million for domestic travel, according to the budget details.
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In addition, Shettima has allocated N1.847 billion for both domestic and international travel, with N1.229 billion designated for overseas travel and an extra N618.399 million for local travel.
Notably, the N21 billion allotted to the Office of the Chief of Staff is a noteworthy 97.5% increase over the N517.95 million allotted to the same office in the 2023 budget.
Additional divisions comprise N40.61 billion for the State House headquarters, N9.1 billion for the President’s State House Operations, and N3.14 billion for the Vice President’s State House Operations.
The budget also includes N1.13 billion for the State House Medical Centre, N632.4 million for the State Lagos Liaison office, and N260.5 million for the office of the Chief Security Officer to the President.
Tinubu stressed during the budget presentation that the plan intends to finish important infrastructure projects, address structural difficulties in the economy, lower business expenses, and raise Nigerians’ standard of living.
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The proposed budget also aims to reduce poverty and promote access to social security, while promoting job-rich economic growth, macroeconomic stability, a favourable investment climate, and improved human capital development.
He said, “Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.
“Human capital is the most critical resource for national development. Accordingly, the budget prioritises human development with particular attention to children, the foundation of our nation.”
The Federal Ministry of Finance is expected to receive N519.9 billion, closely followed by the Ministry of Works, which is projected to receive the largest allocation of N521.3 billion in the proposed budget. Furthermore, N308.2 billion is designated for the Ministry of Defence, N304.4 billion for the Ministry of Health and Social Welfare, and N265.4 billion for the Ministry of Education.
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Additional funding is provided to the Ministry of Power (N264.2 billion), government-owned businesses (N820.9 billion), the TETFund (N665 billion), housing and urban development (N96.9 billion), water resources (N87.7 billion), and police affairs (N69 billion).
The National Assembly receives N198 billion in statutory transfers, while the Niger Delta Development Commission, the National Judicial Council, the North East Development Commission, and the Basic Health Care Provision Fund are allotted N324.8 billion, N251.4 billion, and N165 billion, respectively.
Notably, the Presidency would now receive N272 billion instead of N148.16 billion as in the 2023 budget, an increase of 83.58%. This budget includes N60.53 billion for capital expenditure, N176.92 billion for personnel expenditures, and N34.22 billion for overhead costs.
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