The proposed 2021 budget of N13 trillion that President Muhammadu Buhari presented to the senators and members of the House of Representatives in Abuja on Thursday, October 8, is full of surprises.
Having a holistic view about the 2021 budget, the Universal Basic Education Commission and Health sector have been given more priority than Defence.
The sectors have a higher sum of N132 and N70 billion allocations respectively than the total sum of N121 billion that was budgeted for the Defence.
Techeconomy.ng has also captured the highlights of 2021 Capital Projects.
Here are 12 key capital spending allocations in 2021 budget include:
- Works and Housing: N404 billion
- Transportation: N256 billion
- Power: N198 billion (inclusive of N150 billion for the Power Sector Recovery Plan)
- Water Resources: N153 billion
- Health: N132 billion
- Education: N127 billion
- Defence: N121 billion;
- Agriculture and Rural Development: N110 billion;
- Zonal Intervention Projects: N100 billion
- Universal Basic Education Commission: N70 billion
- Niger Delta Development Commission: N64 billion and
- Industry, Trade, and Investment: N51 billion
Meanwhile, the country budgeted N398bn for education in 2017. In 2018, President Buhari initially proposed N496.9bn, but it was later raised to about N605.8bn by the National Assembly.
Incidentally, the budget was later cut as part of the virement for the Independent National Electoral Commission to prepare for next February’s polls.
Later on, President Buhari and the Minister of Education, Adamu Adamu, assured the education sector of remarkable improvement in funding in 2019.
After the initial presentation of the 2020 budget, federal government slashed the 2020 budgetary allocations for basic health care from N44.4 billion to N25.5billion, and for Universal Basic Education (UBE) from N111.7 billion to N51.1 billion.
Comparing all of these, the 2020 education allocation is higher than the just proposed 2021 budget for the sector.