Details On How 2023 Budget Will Be Spent

The minister of finance, Ahmed Zainab, has given details on how the 2023 budget will be spent.

According to budget details, the Presidency will spend N133,730,697,750 next year; the National Assembly will spend N169 billion; the Judiciary will spend N150 billion; the Ministry of Defence will spend N1,248,170,610,116; the National Security Adviser will spend N195,018,151,836; and the Independent National Electoral Commission (INEC) will spend N50 billion.

The Ministry of  Finance, Budget and National Planning is expected to spend N10,101,444,709,834; Ministry of Education ,N1,078,421,185,229; Ministry of Health, N1,097,703,830,504; Ministry of Works and Housing, N356,031,701,295; Ministry of Foreign Affairs, N98,114,501,448.

Others are: Ministry of the Interior, N304,395,280,926; Agriculture and Rural Development ,N228,428,688,402; Power, N239,506,204,145; Transportation, N126,532,023,138; Police Affairs, N813,912,057,660; Communication and Digital Economy, N46,480,627,751; Labour and Employment, N21,321,652,639; Industry, Trade and Investment, N42,738,715,093; Aviation, N96,398,200,287 and Special Duties and Intergovernmental Affairs, N5,522,291,222.

The sum of N12,698,620,521has been budgeted for the Office of the Head of the Civil Service of the Federation; N90,506,027,316 for the Secretary to the Government of the Federation; Ministry of the Niger Delta, N127,041,796,001 and N355,093,601,378 for the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The State House HQ has been penciled down to spend N14,808,479,660; office of the President N3,441,177,028; Vice President N1,555,447,054; office of the Chief Security Office to the President N199,027,536 and State House Medical Center N455,204,236.

To purchase tyres for bullet proof vehicles, plain cars and CCU vehicles, platform trucks, jeeps, ambulances, and other utility and operational vehicles, the federal government plans to spend N251,084,550. The Economic and Financial Crimes Commission (EFCC) has a total budgetary allocation of N43,201,071,521.

In 2023, the State House, President and Vice President will spend the sum of N889,530,771 on food stuff, refreshments, meals and the supply of catering materials. Next year, the State House is asking for N135,668,651for refreshments and meals and N245,143,963 for food stuff/catering materials supplies. In the case of the President, N301,138,860 will be for food stuff/catering materials supplies while N30,652,500 will be spent on refreshments and meals. For the Vice President: food stuff/catering materials supplies will require N156,662,400 while refreshments and meals will cost N20,264,397.

Under the Service Wide Vote domiciled in the Federal Ministry of Finance, N170 billion will be set aside for Tertiary institutions salary negotiations and another N300 billion for Tertiary institutions revitalisation.

To restructure and recapitalise NIPOST, N10 billion has been earmarked and N20 billion will be devoted to the recapitalisation of the Ministry of Finance Incorporated (MOFI); N112,337,404,948 will be used to settle the arrears of 33 per cent increase in pension rate.

Special intervention SDG’s1&2 will gulp N65 billion; gratuity and death benefits N108 million; pension running cost for parastatals N978,600,063; unfunded liabilities will receive N21,935,746,305; the Federal Government of Nigeria (FGN) will transfer it’s own share of oil price royalty to the Nigeria Sovereign Investment Authority (NSIA) amounting to N13,366,750,326.

Provision of N5 billion has been made for Corp members NHIS and a special intervention fund of N1,920 billion has been created for construction of storage facility to house repatriated artifacts.

The Presidential Air Fleet in the office of the National Security Adviser will require N1,600,443,300 to “overhaul of Gulfstream GV and CL605 aircraft engine”; N500,022,000 for compliance with mandatory upgrade on PAF aircraft; the purchase of aircraft calibration equipment will require N250 million; purchase of mobile helicopter landing pad N650 million and the purchase of one marauder vehicle for force and asset protection will cost N100,450,00.

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