The 2024 Appropriation Bill currently presented to the National Assembly indicates potential expenditures for international and local travels of President Bola Tinubu, Vice President Kashim Shettima, and their respective aides, amounting to a total of N15.961 billion.
Outlined in the ‘Budget of Renewed Hope,’ with a total of N27.5 trillion, the breakdown allocates N6.992 billion for the President’s foreign trips and N638.535 million for local travels.
Meanwhile, the Vice President’s travel expenses are slated at N1.847 billion—N1.229 billion for foreign trips and N618.399 million for local travels.
Other significant allocations encompass an increase of 97.5 percent, rising to N21 billion for the Office of the Chief of Staff to the President, compared to the N517.95 million allocated in the previous year’s budget for the same office.
Moreover, the State House headquarters is set to receive N40.61 billion, while specific divisions like State House Operations for both the President and Vice-President are earmarked at N9.1 billion and N3.14 billion, respectively.
The proposed budget aims to address critical infrastructure projects, with President Tinubu highlighting its focus on resolving structural issues within the economy, lowering business costs, and enhancing the quality of life for Nigerians.
Key objectives encompass fostering job-rich economic growth, ensuring macro-economic stability, fostering a more conducive investment environment, boosting human capital development, and tackling poverty while extending social security coverage.
The proposed budget allocations also outline significant appropriations for various ministries and commissions, with the Ministry of Works slated to receive N521.3 billion, closely followed by the Federal Ministry of Finance with N519.9 billion.
Additionally, N308.2 billion is designated for the Ministry of Defence, while the Ministry of Health and Social Welfare is allotted N304.4 billion, and the Ministry of Education is set to receive N265.4 billion.
Other notable 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 the realm of statutory transfers, the National Assembly is allocated N198 billion, while the Niger Delta Development Commission is earmarked to receive N324.8 billion.
Furthermore, the Universal Basic Education is set to obtain 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.
Regarding the Presidency, an 83.58 percent increase is noted in the budget allocation, rising from N148.16 billion in 2023 to N272 billion in the proposed budget.
This allocation encompasses N176.92 billion for personnel costs, N34.22 billion for overhead costs, and N60.53 billion for capital expenditure, reflecting a significant boost in funding for the Presidency compared to the previous year.
