2022 Budget: Works, Finance, Defence Ministries to Get Highest Capital Allocations

The federal government says the ministries of works and housing; finance, budget and national planning; and defence will get the highest capital allocations in the 2022 budget.

This is according to the 2022 budget call circular published by the Budget Office.

The circular, signed by Zainab Ahmed, minister of finance, budget and national planning, sets out the requirements and instructions that must be satisfied and followed in the preparation of the 2022 federal government of Nigeria (FGN) budget proposal.

A breakdown showed that the ministry of works and housing was to get the highest allocation of N352.65 billion out of the entire N1.759 trillion capital expenditure for ministries, departments and agencies (MDAs) in the 2022 budget.

The ministry of finance, budget and national planning came next on the list with N158.07 billion.

However, it noted that the amount includes N150 billion for Power Sector Recovery Programme Transfer to the Nigerian Bulk Electricity Trading (NBET).

Trailing the two ministries is defence with N128.94 billion and transport with N120.6 billion

Other ministries with high capital allocation include health (N108.29 billion), education (N100.75 billion) and water resources (N86.72 billion).

These are followed by agriculture and rural development (N83.82 billion); aviation (N69.3 billion); trade and investment (N51.08 billion); science and technology (N48.33 billion); national security adviser (N43.14 billion); power (N40.24 billion); interior (N39.64 billion); police affairs (N32.34 billion); presidency (N25.82 billion), among others.

“The thrust of the FGN’s capital expenditure programme in 2022 will be completion of as many ongoing projects as possible, rather than starting new projects,” the document reads.

“Thus, MDAs are hereby advised that new projects will not be admitted into the capital budget for 2022,unless adequate provision has been made for completion/work programme of ALL ongoing projects.”

Leave a Reply

Your email address will not be published. Required fields are marked *

Social Media Auto Publish Powered By : XYZScripts.com

Enjoy this post? Please spread the word