Senate Releases Sectoral Details of President Tinubu’s 2024 Budget

The Senate Committee on Appropriation released the sectoral breakdown of the N27.5 trillion 2024 budget on Friday, revealing significant investments in infrastructure, defense, and social welfare.

Out of the N8.7 trillion allocated for capital expenditure, the Ministry of Works receives the largest share with N521.3 billion, followed closely by the Ministry of Finance with N519.9 billion and the Ministry of Defence with N308.2 billion.

Healthcare and education also receive substantial funding, with the Ministry of Health and Social Welfare receiving N304.4 billion and the Ministry of Education receiving N265.4 billion.

Other notable allocations include: Ministry of Power: N264.2 billion; Government-owned Enterprises: N820.9 billion; TETFund: N665 billion
; Housing and Urban Development: N96.9 billion; Water Resources: N87.7 billion; Police Affairs: N69 billion.

Statutory transfers also saw significant allocations, with National Assembly: N198 billion; Niger Delta Development Commission: N324.8 billion; Universal Basic Education: N251.4 billion; National Judicial Council: N165 billion; North East Development Commission: N126 billion; Basic Health Care Provision Fund: N125.7 billion

The budget also allocates funding for various other initiatives, including Zonal Intervention Projects (Constituency Projects): N100 billion; Special Projects: N108 billion; Contingency (Capital): N200 billion; Aid and Grants Funded Projects: N685.6 billion; National Social Investment Programme Agency: N100 billion.