2024 Budget: FG to Spend Over N57,427,575 on State House Residential Rent

The Federal Government has proposed to spend over N57,427,575 on residential rent in State House quarters.

This was contained in the 2024 Budget document obtained by Economic Confidential. Details in the budget show that State House will spend N26,529,441 in evacuating sewage and N1,460,489,744 on salary, while personnel cost is projected at N2,163,029,381 with salaries and wages taking up N1,460,489744.

Besides that, the Presidential Villa will spend over N6,484,482,950 for travels and transportation while local travels and transport training will take N60,981,931.

Whereas international travels and transportation will cost N6,282,860,289, newspaper will take N21,296,484, while magazines will gulp N3,303,149.

Also, for fueling of State House motor vehicles, the Federal Government will spend N148,269,415, and a total of N37,959,406 to fuel State House standby generating sets. Refreshments in the Villa will cost N176521,262, while electricity charges will take N260,849,548. The Federal Government’s 2024 aggregate expenditure is estimated at N27.50 trillion.

“This is 10.8 per cent (or about N2.68 trillion) higher than the 2023 of government’s aggregate expenditure estimate of N24.82 trillion (including the N2.996 billion supplementary provision).

“The 2024 expenditure estimate includes statutory transfers of N1.30 trillion and non-debt recurrent expenditure of N10.26 trillion.”

“The provisions of N8.25 trillion and N243 billion have been made for Debt Service and Sinking Fund to retire maturing bonds issued to local contractors/creditors, respectively,” the document noted.