The House of Representatives has approved the 2015 budget with an increase of N135.4 billion, with a hefty N2.3 billion is allocated to settle entitlements of former Presidents/Heads of State and Vice Presidents/Chiefs of General Staff.
Highlights of the approved budget showed that education will receive the lion share while N5.5 billion is for Employees Compensation Act – Employees Compensation Fund.
The House on Thursday approved a total sum of N4.493 trillion budget for the year 2015 fiscal year, up from the N4,357,960,000,000 proposed by the Executive in November 2014.
Under the N1,993,891,830,842 recurrent expenditure, Education will receive the highest allocation of N392,242,784,654 followed by Defence/MOD/Army/Air Force/Navy with N326,697,219,431 and Police formation and Commands with N303,822,224,611 while the sum of N236,975,742,847 is for Health sector.
The House committees on Appropriation and Finance had on Wednesday presented a report approving N425,425,930,000 as budget for the year.
However, the amount of N4,493,363,957,158 considered at the Committee of the Supply’ and which passed through third reading on Thursday was N67,433,759,158 higher than the one shown Wednesday’s report.
That report was presented by the chairman, committees on Appropriations and Finance, John Enoh. Analysis of the budget showed that an increase in statutory transfers from N366.280 billion to N375.616 was the main difference between Enoh’s figures and the final amount approved by the House.
Details showed that Niger Delta Development Commission’s allocation was raised from N45.780 billion to N46.720 billion; Universal Basic Education’s allocation was raised from N67.3 billion to N68.380 billion while National Assembly’s allocation was raised from N115 billion to N120 billion.
Other agencies with higher allocations for 2015 are: Public Complaint Commission, which will receive N4 billion as against N2 billion for last year and the National Human Right, which will receive N1.516 billion instead of N1.2 billion.
Further analysis also showed that the National Judicial Council Meanwhile will receive the sum of N73 billion while the Independent National Electoral Commission will receive N62 billion.
Other highlights of the approved budget are: N375.616 billion for statutory transfer; N953.620 is for debt service; N2.607 billion is for recurrent (non-debt) expenditure while the sum of N642,848,999,699 inclusive of N144.420 billion is for capital expenditure in statutory transfers.
Other highlights of the approved allocations are: Youth Development (N69,423,427,479); Office of the National Security Adviser (N62,226,771,999); Petroleum Resources (N58,293,428,177); Secretary to the Government of the Federation (N48,299,630,506); Foreign Affairs (N41,688,372,171) and Agriculture and Rural Development (N31,871,341,597).
Further breakdown also included: Science and Technology (N26,593,880,816); Works (N25,177,777,661); Information (N23,695,474,427); The Presidency (N20,085,865,120) Tourism, Culture and National Orientation (N18,118,392,153); Environment (N15,602,574,341); Trade and Investment (N10,978,094,393); and Communication Technology (while N10,597,851,549).
From the N13,965,664,092 approved for the eight Federal Executive bodies, the National Population Commission will receive the sum of N5,299,416,374 while the Code of Conduct Bureau will receive N1,935,767,344.
Other agencies and their allocations are: N473,656,088 for Code of Conduct Tribunal; N2,214,028,373 for Revenue Mobilisation Allocation and Fiscal Commission; N1,129,445,636 for Federal Civil Service Commission; N740,477,185 for Police Service Commission and N2,172,873,092 for Federal Character Commission.
Under the N368,335,011,023 approved for Service Wide Votes, Zaman Lafiya will receive the sum of N20.270 billion, while N22 billion is allocated to operations – Internal for the Armed Forces.
Nigerian Army Quick Response Group has been allocated N9.6 billion for payment including arrears just as N5 billion is allocated to payment of outsourced services.
Others are: N17.5 billion for General Election logistic support; N17,397,993,277 for Contingency; N6 billion for country’s contribution to West African Examination Council (WAEC); N4.5 billion for assessed contribution to African Union and others as well as N5 billion is for margin for increases in costs.
The breakdown also showed that N11 billion has been allocated to external financial obligations; while N3,099,600,000 has been allocated to recurrent adjustment.
Public service wage adjustment for MDAs (including arrears of promotion and salary increases) will gulp N38,987,017,746 while N11.755 billion is for improved remuneration package for Nigerian police.
The sum of 60,251,158,887 is for payment into the redemption fund (15% of total personnel cost); N18 billion is for arrears of 33% increase in pension rates; N3.750 billion for arrears of police death benefits (2004-2010); N14,690,036,516 for Group Life Insurance for all MDAs including DSS; N1 billion for Armed Forces enhanced retirement benefits of Commodores and above; N2.995 billion for severance benefits of Delta Steel Company/Pension pay-off; N3,544,110,811 is for NHIS (Military retirees) while the sum of N36 million is for administration and monitoring of (OHCSF) Group Life.
From the total sum of N63,281,093,786 earmarked for presidential amnesty programme, the stipends and allowances of 30,000 Niger Delta ex-militants is to gulp N23.625 billion; N5,502,447,783 is for Presidential amnesty operational cost; N34,153,646,003 is for reintegration of transformed ex-militants while zero allocation is for reinsertion/transition safety allowances for 3,642 ex-militants (phase 3).
According to the report, the sum of N498,428,999,699 was set aside for capital expenditure of various ministries, departments and agencies (MDAs) in addition to the sum of N144.420 billion as capital expenditure in statutory transfers.
From the total sum of N953.62 billion approved for debt servicing, the sum of N894.610 billion is for domestic debt while N59.010 is for foreign debts.