FG removes 20 professional bodies with N27.72bn expenditure from 2024 budget

AT least 20 professional bodies and councils will not receive funding from the Federal Government in the 2024 fiscal year.

The government made no budgetary provision for them in the 2024 budget proposal, which President Bola Tinubu presented to the National Assembly in late November 2023.  

Tinubu signed the budget into law after the National Assembly raised the proposed budget from N27.5 trillion to N28.7 trillion and approved it.

The ICIR reports that the increase did not capture funds for the professional bodies.

The exemption is linked to the government’s gradual process of stopping the funding of professional bodies and councils by 2026.

The director-general of the Budget Office, Ben Akabueze, said in June 2023 that the move was in line with the decision of the Presidential Committee on Salaries (PCS).

In August 2023, The ICIR analysed how 27 professional bodies and councils received N377.58 billion between 2014 and 2023.

For instance, in 2014, the total amount allocated to these institutions was N24.43 billion.

By 2019, the allocation increased to N37.37 billion. In the 2023 budget, the 27 organisations were allocated N69.08 billion.

However, according to a document on the website of the Budget Office of the Federation under the Government Owned Enterprises (GOE), the 20 affected professional bodies in the 2024 fiscal year have a total expenditure of N27.72 billion, of which the total gross revenue is N16.97 billion and their total net income of N10.67 billion.

A breakdown of the total expenditure includes a personnel cost of N9.55 billion, an overhead cost of N11.72 billion and a capital expenditure of N6.46 billion.

The affected professional bodies and councils include the Advertising Regulatory Council of Nigeria, the Computer Registration Council of Nigeria, the Council of Nigerian Mining Engineers and Geoscientists, the Council for Registered Engineers of Nigeria, the Dental Therapists Registration Board, Environmental Health Registration Council of Nigeria, the Health Records Registration Board, and the Institute of Chartered Chemist of Nigeria,

Others are the Institute of Forensics Science Laboratory-Oshodi, Librarians Registration Council of Nigeria, Medical Lab Science Council, Medical and Dental Council of Nigeria, Nigerian Institute of Soil Science (NISS), Nigerian Press Council, Nursing and Midwifery Council, Optometrist and Dispensing Opticians Board of Nigeria, Radiographers Registration Board, Surveyors Registration Council 0f Nigeria, Teachers Registration Council of Nigeria, and Veterinary Council of Nigeria.




     

     

    2024 GOE’s Budget Proposal

    Meanwhile, The ICIR findings through the budget proposal for government-owned enterprises show that 64 GOEs have a proposed expenditure of N3.77 trillion and a projected revenue of N4.93 trillion.

    Also, the proposed consolidated revenue fund (CRF) is pegged at N1.45 trillion. The net profit is projected to be N1.160 trillion. 

    Status GROSS REVENUE GROSS EXPENDITURE FGN SUBVENTION NET PROFIT
    SELF FUNDED (30) 4,246,999,003,204.27 2,644,936,347,876.18 1,602,062,655,328.09
    PARTIALLY FUNDED (11) 418,398,613,310.58 817,584,985,585.67 510,302,584,688.00 -399,186,372,275.09
    FULLY FUNDED (22) 262,610,159,984.51 305,424,615,634.91 292,698,514,323.44 -42,814,455,650.40
    Total 4,928,007,776,499.36 3,767,945,949,096.76 803,001,099,011.44 1,160,061,827,402.60

     

    The data further shows that 30 out of the 64 self-funded GOEs have a total gross revenue of N4.25 trillion and a gross expenditure of N2.44 trillion, while the net profit is pegged at N1.60 trillion.

    Meanwhile, the remaining GOEs would receive Federal Government funding of N802.001 billion.

    Kehinde Ogunyale tells stories by using data to hold power into account. You can send him a mail at [email protected] or Twitter: Prof_KennyJames

    Join the ICIR WhatsApp channel for in-depth reports on the economy, politics and governance, and investigative reports.

    Support the ICIR

    We invite you to support us to continue the work we do.

    Your support will strengthen journalism in Nigeria and help sustain our democracy.

    If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here


    Support the ICIR

    We need your support to produce excellent journalism at all times.

    - Advertisement

    Recent

    - Advertisement