Rail-ways construction gulp N85.22bn out of N92.25bn for capital spending
The Federal Government, FG, has proposed to spend a total of N93.66billion of its N20.51 trillion budget on its activities in the Ministry of Transportation for the 2023 fiscal year.
A breakdown of the Ministry’s budget shows that of the total of N93,661,778,746 billion allocated to it, capital projects would gulp N92.25 billion; overhead costs received a proposal of N382.18 million, while the sum of N1 billion was earmarked for personnel costs.
A more breakdown of the budget shows that of N85.22 billion for construction/provision, N1.14 billion was earmarked for rehabilitation/repairs of roads, while N84 million was for construction/provision, and rehabilitation/repairs of waterways.
The ministry is to spend most of its capital budget on ongoing projects some of which include: activities of Anti-Corruption and Transparency Unit (ACTU) in the ministry
and its agencies and entrenching transparency, compliance, ethics, achieving zero tolerance for corruption in the workplace, development
of code of conduct, project monitoring for which it is proposing N30 million.
The federal government proposed N30,759,220,905 billion for completion of abuja-kaduna; completion of lagos-ibadan and its associated additional works; rehabilitation of Itakpe-ajaokuta rail line and construction of 12 NOS station building and tracks laying works at railway ancillary facilities area Agbor, among others.
The construction of identification and installation of 30km speed reduction on road signage in high risk areas (quarterly), was allotted N18 million, while appropriation of 10bn was for Railway modernization.
N1.21 billion was also earmarked for construction of office accommodation for the ministry.
However, the ministry also noted a surplus( Deficit) revenue over expenditure of -N93,661,778,746 bn.
Credit : THE VANGUARD.
