2024 Budget: List Of Ministries With Highest Allocations
In a significant development, the 10th Senate, led by Godswill Akpabio, successfully passed the 2024 appropriation bill on a Saturday.
This milestone legislation obtained unanimous approval from both chambers of the National Assembly, marking a crucial step in the fiscal planning process.
Interestingly, the budget underwent a noteworthy transformation, expanding from President Bola Tinubu’s initial proposal of N27.5 trillion to a revised and approved amount of N28.7 trillion.
The parliamentary body played a pivotal role in this augmentation, increasing President Bola Tinubu’s submitted budget by a substantial N1.2 trillion.
Abubakar Bichi, the Chairman of the House Committee on Appropriation, clarified during a press briefing after a special session on Saturday that this increment was necessitated by inflation and the commitment of Government Owned Enterprises (GOEs) to boost their revenue.
Delving into the specifics of the approved budget, it was revealed that the Ministry of Defence received the highest allocation, a staggering N1.3 trillion.
Following closely in the fiscal hierarchy, the Ministry of Police Affairs secured the second-highest allocation, a substantial sum of N869.121 billion.
Distributing the financial pie further, the Ministry of Education was earmarked N857.134 billion, underscoring the government’s commitment to education.
The Ministry of Health and Social Welfare, a critical sector, received a significant allocation of N667.577 billion, emphasizing the importance placed on public health.
Turning attention to internal affairs, the Ministry of Interior was granted N362.552 billion to address its various responsibilities.
Highlighting the government’s focus on empowering the youth, the Ministry of Youths received a commendable allocation of N201.467 billion.
The Office of the National Security Adviser secured a noteworthy N199.763 billion, reflecting the emphasis on national security.
In the realm of international relations, the Ministry of Foreign Affairs obtained a substantial allocation of N140.456 billion.
Supporting the vital agricultural sector, the Ministry of Agriculture and Food Security received a substantial allocation of N110.248 billion.
Ensuring the smooth functioning of government operations, the Office of the Secretary to the Government of the Federation was granted N100.248 billion.
Last but not least, the Presidency, at the heart of governance, received a significant allocation of N97.913 billion, completing the intricate tapestry of budget allocations for the fiscal year 2024.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
