The sectoral allocations for the N27.5 trillion budget for the 2024 fiscal year have been made public by the Nigerian Senate.
This comes after President Bola Tinubu’s National Assembly budget presentation, which sparked uproar since it contained too little facts.
Members of parliament were only provided with the president’s address during the budget debate; comprehensive budget documents were not provided.
This unprecedented circumstance sparked worries and appeals to put the budget’s approval on hold until a comprehensive analysis was ready.
Notwithstanding these reservations, the budget plan was passed to a second reading in both houses without providing the legislators with the specific amounts.
The Senate Appropriations Committee unveiled the budget’s highlights on Friday night, emphasizing the amounts allotted to various sectors.
The ministries of Works, Finance, and Defense received the largest portion of the N8.7 trillion capital component of the 2024 budget according to the fiscal document.
N521.3 billion goes to the Ministry of Works, N519.9 billion to the Ministry of Finance, and N308.2 billion to the Ministry of Defence.
N265.4 billion was suggested for capital projects in the Ministry of Education, while N304.4 billion was designated by the Federal Ministry of Health and Social Welfare.
The remaining entities are the N665 billion TETFund, the N264.2 billion Ministry of Power, the N820.9 billion Government-owned Enterprises, the N87.7 billion Water Resources, the N69 billion Police Affairs, and the N665 billion Housing and Urban Development.
The Niger Delta Development Commission receives N324.8 billion, Universal Basic Education N251.4 billion, National Judicial Council N165 billion, North East Development Commission N126 billion, Basic Health Care Provision Fund N125.7 billion, and the National Assembly N198 billion under statutory transfers.