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2019: FG budgets N2.3tr for debt service, N28,908,625m for Villa ranch

By Grand News on 07/01/2019

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President Muhammadu Buhari.
President Muhammadu Buhari.

The Federal Government has budgeted to spend over N2,264,014,113,091 for debt service in 2019, even as it allocated N28,908,625 million in the 2019 budget for the upgrade of Villa ranch and construction of wildlife, The Sun has reported.

The paper also said that, about N65,431,205 million has been earmarked for wildlife conservation within the State House.

Following the herdsmen/farmers crises across the country, the Federal Government had proposed the establishment of ranches in all the states of the federation, although this was stoutly rebuffed by many Nigerians. But government went ahead on June 20, 2018, to approve over 94 ranches in 10 states.

In the breakdown of the budget, about N1,378,788,677,233 will be expended on capital development fund.

While the State House would spend N96,106,948 for contributory pension–employer’s contribution, it also proposed N145,143,963 million on foodstuff/catering materials and supplies in the 2019 budget.

Besides, the Villa plans to spend N135,668,651 million for refreshments and meals whereas office rent will cost the government N66,669,965 million.

Also, a total of N478,313,996 million has been budgeted for honorarium and sitting allowances for State House officials. Their medical expenses, according to the budget document is expected to gulp N51,821,160 whereas welfare packages would take N240,730,180 million.

To deepen the anti-corruption fight within the Villa, the government allocated a total of N7,341,583 million in support of the initiative.

The Total Personnel cost in the Villa is expected to rise to N1,645,266,597, in 2019 while total overhead cost would be N2,740,063,436.

Similarly Total recurrent would cost N4,385,330,033 while total capital would gulp N6,002,789,801.

Source Grand News

Posted 07/01/2019 06:59:14 AM

 

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