International and local travels of President Bola Tinubu, Vice President Kashim Shettima, and their aides in 2024 are estimated to consume N15.961 billion, according to details from the 2024 Appropriation Bill presented to the National Assembly. The total budget, tagged “Budget of Renewed Hope,” amounts to N27.5 trillion.
President Tinubu is allocated N6.992 billion for foreign trips and N638.535 million for local travels, while Vice President Shettima is allotted N1.847 billion, with N1.229 billion for foreign trips and N618.399 million for local travels.
The Office of the Chief of Staff to the President receives a significant allocation of N21 billion, representing a 97.5 percent increase from the previous year’s budget. The State House headquarters is earmarked N40.61 billion, State House Operations (President) N9.1 billion, and State House Operations (Vice-President) N3.14 billion. Other allocations include N260.5 million for the office of the Chief Security Officer to the President, N1.13 billion for the State House Medical Centre, and N632.4 million for the State Lagos Liaison office.
President Tinubu, during the budget presentation, emphasized the aim of completing critical infrastructure projects, addressing structural issues in the economy, reducing business costs, and enhancing the well-being of the average Nigerian. The proposed budget prioritizes human development, defence, and internal security, with an emphasis on law enforcement capabilities.
Key allocations in the proposed budget include N521.3 billion for the Ministry of Works, N519.9 billion for the Federal Ministry of Finance, N308.2 billion for the Ministry of Defence, N304.4 billion for the Ministry of Health and Social Welfare, and N265.4 billion for the Ministry of Education. Other allocations include N264.2 billion for the Ministry of Power, N820.9 billion for government-owned enterprises, N665 billion for TETFund, N96.9 billion for Housing and Urban Development, N87.7 billion for Water Resources, and N69 billion for Police Affairs.
The National Assembly, under statutory transfers, is allocated N198 billion, Niger Delta Development Commission N324.8 billion, Universal Basic Education N251.4 billion, National Judicial Council N165 billion, North East Development Commission N126 billion, and Basic Health Care Provision Fund N125.7 billion.
The budget for the Presidency sees an 83.58 percent increase to N272 billion, comprising N176.92 billion for personnel costs, N34.22 billion for overhead costs, and N60.53 billion for capital expenditure, compared to N148.16 billion in the 2023 budget.
