The figure is contained in the 2024 Appropriation Bill currently before the National Assembly.
The PUNCH reports that the nation’s N27.5tn budget christened, ‘Budget of Renewed Hope,’ was submitted to a joint sitting of the National Assembly last Wednesday.
According to the details of the budget, the President will spend N6.992bn on foreign trips and N638.535m on local travels.
The Vice President will also spend N1. 847bn on international and local travels.
According to the budget proposal, he will spend N1. 229bn on foreign trips and another N 618.399m on local travels.
The Office of the Chief of Staff to the President will get an allocation of N21bn, a 97.5 per cent increase from the N517.95m allocated in the 2023 budget to the same office.
The document also revealed that the State House headquarters will get N40.61bn, State House Operations (President) N9.1bn, and State House Operations (Vice-President) N3.14bn.
Also, N260.5m was provided for the office of the Chief Security Officer to the President, the State House Medical Centre got N1.13bn while the State Lagos Liaison office got N632.4m.
During his budget presentation last week, President Tinubu said the budget proposal was aimed at completing critical infrastructure projects that would help address structural problems in the economy while lowering the costs of doing business for companies and the cost of living for the average Nigerian.
He also said the proposed budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.
He stated, “Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.
“Human capital is the most critical resource for national development. Accordingly, the budget prioritises human development with particular attention to children, the foundation of our nation.”
In the proposed allocations, the Ministry of Works gets N521.3bn, followed by the Federal Ministry of Finance with N519.9bn, while N308 2bn is earmarked for the Ministry of Defence.
Similarly, the Ministry of Health and Social Welfare gets N304.4bn while the Ministry of Education gets N265.4bn.
Others are the Ministry of Power N264.2bn; Government-owned enterprises N820.9bn; TETFund N665bn; Housing and Urban Development N96.9bn; Water Resources N87.7bn and Police Affairs N69bn.
The National Assembly, under statutory transfers gets N198billion , Niger Delta Development Commission N324.8billion, Universal Basic Education N251.4billion., National Judicial Council N165bn, North East Development Commission N126billion and Basic Health Care Provision Fund N125.7bn.
The amount allocated to the Presidency increased by 83.58 per cent to N272bn from N148.16bn in the 2023 budget.
The Presidency will get N272bn, comprising N176.92bn as personnel costs, N34.22bn as overhead cost, and N60.53bn as capital expenditure.
This is an 83.59 per cent increase from the N148.16bn budgeted for the Presidency in 2023.
