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Economy

Budget: Presidency overhead, personnel costs rise by N14.44bn

The amount allocated for the Presidency in the 2023 Appropriation Act rose by N14.44bn, compared to the proposal delivered by the President, Major General Muhammadu Buhari (retd.), to the National Assembly in October 2022.

The amended fiscal framework for 2023, as approved by the NASS, showed additional allocations for personnel costs, overhead costs, and capital projects in the Presidency.

While personnel cost stood at N98.52bn in the proposed budget, that figure rose to N102.52bn in the approved budget; marking a N4bn difference.

Likewise, the overhead cost in the proposed budget was N17.49bn but rose by N8bn; amounting to N25.54bn.

Also, capital expenditure for the Presidency rose from N17.72bn in the proposal to N20.12bn in the approved budget signed by the President.

The Presidency encompasses the offices of the President, the Vice President, the Secretary to the Government of the Federation, the Head of Civil Service of the Federation, the National Security Adviser and the State House Administration.

Some of the agencies under it, as identified in the budget documents, are the State House Headquarters, the State House Operations (Office of the President), State House Operations (Office of the Vice President), Office of the Chief of Staff to the President, Office of the Chief Security Officer to the President, State House Medical Centre and the State House Lagos Liaison Office.

Others are the National Institute for Policy and Strategic Studies in Kuru, the Bureau of Public Enterprises, the Economic and Financial Crimes Commission, the Nigerian Financial Intelligence Unit, the Bureau of Public Procurement, and the Nigeria Extractive Industries Transparency Initiative.

The Nigeria Atomic Energy Commission and its centres nationwide, the Office of the Chief Economic Adviser to the President, the National Agricultural Land Development Authority, the National Agency for Science and Engineering Infrastructure, and the National Council on Climate Change also draw their allocations from the Federation Account, under the Presidency.

In the eight years of the Buhari regime, budgetary allocations for these offices amounted to at least N720bn.

More so, allocations for these offices cumulatively rose by 116 per cent – from N68.48bn in 2015 to N148.17bn in 2023.

Punch

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