The 2024 Appropriation Bill currently before the National Assembly reveals that Bola Tinubu, Kashim Shettima, and their entourages are projected to incur a total expense of N15.961 billion on international and local travels.
The budget, named ‘Budget of Renewed Hope,’ with a total value of N27.5 trillion, was presented to the National Assembly in a joint sitting last Wednesday by Tinubu, as reported by The PUNCH.
Details of the budget outline Tinubu’s allocation of N6.992 billion for foreign trips and N638.535 million for local travels.
Shettima is also slated to spend N1.847 billion on international and local travels, with N1.229 billion earmarked for foreign trips and an additional N618.399 million for local travels.
Notably, the Office of the Chief of Staff is allocated N21 billion, reflecting a significant 97.5% increase from the N517.95 million allocated in the 2023 budget for the same office.
Further breakdowns include N40.61 billion for the State House headquarters, N9.1 billion for State House Operations (President), and N3.14 billion for State House Operations (Vice President).
Other allocations in the budget encompass N260.5 million for the office of the Chief Security Officer to the President, N1.13 billion for the State House Medical Centre, and N632.4 million for the State Lagos Liaison office.
During the budget presentation, Tinubu emphasized that the proposal aims to complete critical infrastructure projects, addressing structural issues in the economy, reducing business costs, and improving the living standards of Nigerians.
The proposed budget also targets job-rich economic growth, macro-economic stability, a favorable investment environment, enhanced human capital development, as well as poverty reduction and increased access to social security.
Tinubu 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.”
In the proposed budget allocations, the Ministry of Works is slated to receive N521.3 billion, making it the highest allocation, followed closely by the Federal Ministry of Finance with N519.9 billion. Additionally, N308.2 billion is earmarked for the Ministry of Defence, while the Ministry of Health and Social Welfare is allocated N304.4 billion, and the Ministry of Education is set to receive N265.4 billion.
Other allocations include N264.2 billion for the Ministry of Power, N820.9 billion for government-owned enterprises, N665 billion for TETFund, N96.9 billion for Housing and Urban Development, N87.7 billion for Water Resources, and N69 billion for Police Affairs.
In terms of statutory transfers, the National Assembly is allocated N198 billion, the Niger Delta Development Commission N324.8 billion, Universal Basic Education N251.4 billion, the National Judicial Council N165 billion, the North East Development Commission N126 billion, and the Basic Health Care Provision Fund N125.7 billion.
Notably, there is an 83.58% increase in the allocation to the Presidency, which is set to receive N272 billion, up from N148.16 billion in the 2023 budget. This allocation comprises N176.92 billion for personnel costs, N34.22 billion for overhead costs, and N60.53 billion for capital expenditure. #Tinubu