President Muhammadu Buhari on Tuesday presented the 2020 appropriation bill of N10.33 trillion to the National Assembly with the Federal Ministry of Transportation getting the third highest allocation of N123 billion.
The Federal Ministry of Works and Housing got the highest allocation among the ministries with N262 billion, followed by Ministry of Power which got N127 billion.
The Federal Government’s Social Investment Programmes (SIP) including the N-Power scheme and the school feeding initiative among others got N30 billion while the ministry of Niger Delta affairs got least budget allocation of N24 billion.
The Presidential Amnesty Programme, which is managed by the President’s office, was allocated N62 billion.
The appropriation bill also comprises statutory transfers of N556.7 billion, non-debt recurrent expenditure of N4.88 trillion and N2.14 trillion of capital expenditure.
President Buhari, while presenting the budget to the lawmakers, said the Federal Government hopes to spend a total of N2.46 trillion on capital projects during the 2020 fiscal year, inclusive of N318.06 billion in statutory transfers.
“Although the 2020 capital budget is N721.33 billion (or 23 percent) lower than the 2019 budget provision of N3.18 trillion, it is still higher than the actual and projected capital expenditure outturns for both the 2018 and 2019 fiscal years, respectively,” he said.
The President said the emphasis of the 2020 budget will be the completion of as many ongoing projects as possible rather than commencing new ones.
“MDAs have not been allowed to admit new projects into their capital budget for 2020, unless adequate provision has been made for the completion of all ongoing projects.