The Federal Government has earmarked the sum of N3,209, 620, 029,785 ( approximately N3.2 Trillion) for capital expenditure in its Ministries, Departments and Agencies in 2024.
In Part M of the 2024 Budget Proposal presented to the Joint Session of the National Assembly on Tuesday, the FG listed 45 MDAs to which it allocated various sums expected to be deployed to capital projects. However, the schedule did not indicate any specific project or programme which the MDAs would spend the fund.
A glance at the document showed that the Federal Ministry of Works has the highest allocation of N521.3 billion; the Federal Ministry of Finance came next with an allocation of N519 billion; Ministry of Defence has N308.2billion while the Federal Ministry of Health and Social Welfare has N304.4 billion.
Similarly, the Federal Ministry of Education has an allocation of N265.4 billion; Federal Ministry of Agriculture and Food Security for N222.5 billion just as the sum of N100 billion was allocated to the Federal Ministry of Innovation, Science and Technology.
The schedule also included the Federal Ministry of Housing and Urban Development, N96.9 billion; Federal Ministry of Water Resources and Sanitation, N87.7 billion; Federal Ministry of Power, N78.7 billion; Ministry of Police Affairs, N69.6 billion; Federal Ministry of Transportation, N60.8billion and the Presidency, N60.5 billion.
Others on the list are the National Security Adviser, N59.8 billion; Federal Ministry of Aviation and Aerospace, N47.2 billion; Ministry of Interior, N46.9 billion; Federal Ministry of Industry Trade and Investments, N41.7 billion; Federal Ministry of Environment, N37.2 billion; Federal Ministry of Justice, N34 billion and Federal Ministry of Humanitarian Affairs and Poverty Alleviation.
Meanwhile, indications have emerged that the 2024 budget season might not be business as usual. Sunday Telegraph learnt that the Senate Committee on Appropriation has deployed measures to scrutinise the budget thoroughly in order to identify areas of duplication of projects. A reliable source familiar with the issue, disclosed that MDAs who are in the habit of procuring computers, photocopies and other office equipment every year, might be in for a shocker as a new software has been deployed to detect items which were purchased in the 2023 budget and have been scheduled for fresh procurement in the current year. According to our source, once an item purchased last year reappears again this year, it raises a red flag and the item would be deleted automatically.
Over the years, many MDAs had perfected a system whereby they make provisions for the purchase of office equipment, kitchen utensils, renovation of buildings and other items every budget cycle. These requests often turn out to be frivolous expenditure proposals as the said items may not be procured and funds would disappear into thin air.
