Details of the 2024 Budget presented last week by President Bola Ahmed Tinubu to a joint session of the National Assembly, has been published on the website of the Ministry of Budget and National Planning.
The N27.5trn budget has a deficit of N9.18 trn which will be sources from borrowing. This means about 30 percent of the budget will be funded through borrowing.
Details of the spending shows N9.4 billion would be spent by Tinubu and Vice President Kashim Shettima on travels.
Tinubu will spend N638.5m on local trips, and N6.9 billion on foreign trips, totaling N7.6 billion.
Shettima will spend N1.8 billion for travels, out of which N618.4 million is for local journeys and N1.2 billion for international trips.
Feeding
Feeding, titled ‘refreshment & meal and foodstuff for the offices of Tinubu and Shettima’ was allocated N660.5m for 2024, or N1.8m daily.
Of this amount, N287.8 million is for the president’s office and N372.6 million for the VP’s office.
Further breakdown of the budget proposal shows that refreshments and meals for the president will gulp N33.6 million and another N254.2 million for foodstuff/catering materials supplies.
The vice president will spend N35 million on refreshments/meals and N337.5 million on foodstuff/catering materials supplies.
Aso Rock zoo
The document also shows that the feeding of the animals at the Aso Rock’s zoo, tagged “wildlife conservation”, will gulp N201.4 million.
Renovation of official quarters
The renovation of the president and vice president’s quarters at the State House will gulp N800 million: N500 million for Tinubu and N300 million for Shettima.
In the 2023 supplementary budget approved last month, the Presidency voted N13.5 billion to renovate President Bola Tinubu and Vice President Kassim Shettima’s official residences in Lagos and Abuja.
The approved expenditure was part of the N28 billion voted for State House in the N2.176trn supplementary budget.
The breakdown showed that N4 billion will be spent for the renovation of residential quarters for Mr President; renovation of Aguda House to gulp N2.5 billion; renovation of Dodan Barracks, the official residence of Mr President in Lagos, N4 billion and renovation of official quarters of vice president in Lagos N3bn, totally N13.5 billion.
In the 2024 budget proposal, honorarium and sitting allowance for the president and his vice were pegged at N152.3 million and N67.3 million respectively.
Powering of generators in the State House will cost N37.9 million while N260.8 million is earmarked for electricity charges.
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