President Bola Ahmed Tinubu’s Chief of Staff, Femi Gbajabiamila, will get N21 billion from the 2024 budget.
An analysis of the N27.7 trillion budget document recently presented by Tinubu last week revealed this.
The country’s 2024 budget, christened ‘Budget of Renewed Hope’, showed that the figure allocated for the office of the Chief of Staff is a 97.5 per cent increase from the N517.95 million in 2023.
Other allocations showed that the State House headquarters will get N40.61 billion, State House Operations (President) N9.1 billion, and State House Operations (Vice-President) N3.14 billion.
Also, N260.5 billion was provided for the office of the Chief Security Officer to the President, the State House Medical Centre got N1.13 billion, while the State Lagos Liaison office got N632.4 million.
A broader breakdown indicated that the Presidency will get N272 billion, comprising N176.92 billion as personnel costs, N34.22 billion as overhead costs, and N60.53 billion as capital expenditure.
This is an 83.59 per cent increase from the N148.16 billion budgeted for the Presidency in 2023.
Meanwhile, outside the Presidency, the education sector will get N2.18 trillion, the defence and security sector will get N3.25 trillion, the Health and Infrastructure sectors will get N2.66 trillion, and N534 billion for social development and poverty reduction, among other allocations.
Also, N8.490 trillion, representing 30 per cent, is for debt servicing, N9.918 trillion is for recurrent non-debt expenditure, and N7.717 trillion is for contribution to the Development Fund for capital expenditure.
Other highlights include a Crude Oil Benchmark of 77.96 USD per barrel, oil production of 1.78 million bpd and a foreign exchange rate (Naira-USD) of N750.
A further breakdown of the proposed figure, however, shows that Mr Gbajabiamila proposed N104 million for the purchase of computers and printers for ‘local travel and transport for international training,’ the CoS office plans to spend N579 million, while ‘miscellaneous’ is expected to gulp N103 million.
The breakdown further shows that the reconstruction and repair of the CoS’s official residence is to get N10 billion.
Computer software purchase is expected to gulp another N10.1 billion and N290 million is the allocation for purchase of vehicles.
Last week, Peoples Gazette reported that Mr Tinubu presented a budget of N27.50 trillion for 2024 to both chambers of the National Assembly.
The budget had been approved by both the Senate and the House of Representatives, with minor changes to some sectoral allocations.
The budget presentation, made in a live session of the House chamber, requested budgetary approval of a total spending plan that included 1.78 million barrels per day of crude oil, a borrowing plan of N7.8 trillion, and an exchange rate of N700 to the US dollar.
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