Ramping Up Military Operations and Infrastructural Development: Highlights of Nigeria’s 2024 Budget Proposal
The Nigerian Air Force is preparing for a sustained assault on terrorists and bandits across the country, with a provision of N30.932 billion in the 2024 federal budget for the acquisition of six T-129 Attack Helicopters. Additionally, N2.684 billion was allocated as part-payment for the overhaul of three Alpha Jet aircraft, and N506.060 million for the procurement of two AW 109 Trekker Helicopters. Furthermore, N7.744 billion was budgeted for the procurement of various Platforms/Aircraft arms and ammunition.
In the fight against corruption, the Economic and Financial Crimes Commission (EFCC) received a total of N42.109 billion in funding, with N37.073 billion allocated for personnel costs, N1.732 billion for travels and transport, and N4.794 billion for overhead.
The Ministry of Petroleum Incorporated is positioned to conduct petroleum business for the government, with an allocated sum of N1.5 billion for its establishment. Additionally, there is a provision of N200 million for a review of the Petroleum Industry Act (PIA).
The long-awaited concession arrangement of the Ajaokuta Steel Company Limited (ASCL) has been included in the budget, with an allocation of N4 billion and an additional N800 million for Transaction Adviser services. ASCL itself was allocated N4.454 billion as running cost, with a majority going to personnel costs.
Regarding infrastructural development, railway projects on Abuja-Kaduna and the completion of Lagos-Ibadan, among others, received an allocation of N33 billion out of the total budget of N80.71 billion for the Federal Ministry of Transport.
These highlights demonstrate the government’s dedication to enhancing military operations, combating corruption, and investing in critical infrastructure as outlined in the 2024 budget proposal. With a strategic focus on security and development, Nigeria aims to address key challenges and create a more conducive environment for its citizens.
