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The Federal Government has allocated the sum of N5.93tn to critical sectors of the economy including defence, health, education and infrastructure.
According to the Minister of Finance, Budget and National Planning, Zainab Ahmed, the Federal Government prioritised defence and infrastructure sectors in the 2022 budget by allocating N2.41tn and N1.45tn to these sectors respectively, which represent N15 per cent and N8.9 per cent of the total budget.
Ahmed disclosed this at the “Public Presentation and Breakdown of the Highlights of the 2022 Appropriation Bill’’ held in Abuja on Friday.
She noted that the N2.14tn allocated to the defence and security sectors includes recurrent and capital expenditure for the Military, Police, Intelligence and Para-Miltary.
Some of the projects that will be funded with the allocation include balance payment for the procurement of 3 X JF – 17 Thunder Aircraft, support equipment and spares including targeting Pod for JF – 17, complete with aircraft arms and ammunition (N22.08bn), procurement of 30/32/35 metre hydro survey ship and landing ship tank (N9.69bn) and procurement of 3 X AW109 helicopters and part payment for procurement of 1 X AW139 Helicopter (N1bn).
Others are the Completion of Naval War College complex (N4.4bn) and the upgrade of the Nigerian Navy Reference Hospital Ojo (N1.4bn).
Meanwhile, the N1.45tn allocated for infrastructure includes provisions for Works and Housing, Power (inclusive of Power Sector Recovery Programme provisions), Transport, Water Resources and Aviation.
On allocations for health and education, the minister stated that the sum of N820.2bn was allocated to the health sector.
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The education sector was allocated N1.29tn; this is 7.9 per cent of the total budget.
This also includes N875.93bn provided for the Federal Ministry of Education and its agencies for their recurrent and capital expenditure, N108.10bn provided for Universal Basic Education Commission as well as N306.00bn for transfers to the Tertiary Education Trust Fund.
“For the health sector, we made a provision of N820.2bn. This is for the Federal Ministry of Health and its agencies, including hazard allowances for the medical personnel. We also provided N54.87bn Gavi/Immunisation funds, including Counterpart Funding for Donor Supported Programmes and Global Fund.
“We also provided N54.05bn for Transfer to Basic Healthcare Provision Fund. The BHCPF has been on statutory transfer since 2020 which means that it is on auto pilot so they get the one per cent of the Consolidated Revenue Fund.”
Ahmed also said N863m had been designated for social development and poverty reduction programmes in the 2022 budget.
Source: Punch
This post was written by Chinedu Ibeakanma.
The views expressed here belong to the author and do not necessarily reflect our views and opinions.