National Assembly Unveils Ambitious ₦514.85 Billion Budget for 2024: A Detailed Breakdown

National Assembly Unveils Ambitious ₦514.85 Billion Budget for 2024: A Detailed Breakdown....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie John

In a landmark move, the National Assembly, under the leadership of Senate President Akpabio, Deputy Senate President Jibrin Barau, Speaker Abass, and Deputy Speaker Benjamin Kalu, has revealed its comprehensive budget for the fiscal year 2024. The total budget stands at a staggering ₦514.85 billion, reflecting a commitment to various critical projects and legislative functions. CONTINUE READING

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Here is a meticulous breakdown of the allocated funds across different sectors:

1. Zonal Intervention Projects (ZIP): ₦100 billion
   • The ZIP fund emphasizes the National Assembly’s commitment to regional development, addressing specific needs in various zones across the nation.
2. House of Representatives: ₦78.62 billion
   • The House of Representatives receives a substantial budget allocation to enhance its operational efficiency and capacity.
3. Outstanding Liabilities: ₦50 billion
   • Addressing outstanding liabilities demonstrates the National Assembly’s responsibility in settling financial commitments.
4. Senate: ₦49.14 billion
   • The Senate receives a significant allocation to support its legislative functions and ensure effective representation.
5. National Assembly Office: ₦36.73 billion
   • Allocated funds for the National Assembly Office underscore the importance of maintaining a functional and well-equipped administrative hub.
6. General Services: ₦30.81 billion
   • General services receive substantial funding to cover a wide range of essential functions and services within the National Assembly.
7. Legislative Aides: ₦20.39 billion
   • The provision for legislative aides emphasizes the importance of supporting the workforce that contributes to the efficient functioning of the National Assembly.
8. Completion of NASC Office Complex: ₦20 billion
   • Investment in the completion of the NASC Office Complex reflects the National Assembly’s commitment to modern and functional infrastructure.
9. Service-Wide-Vote: ₦15.19 billion
   • The service-wide vote ensures flexibility in fund allocation, allowing for the adaptation to evolving needs and priorities.
10. NASS Hospital Project: ₦15 billion
    • Allocating funds to the NASS Hospital Project underscores the importance of healthcare facilities for the well-being of National Assembly members and staff.
11. National Assembly Service Commission: ₦12.33 billion
12. Nass Library Complex (Take-Off Grant): ₦12.12 billion
13. Construction of NASC building (Ongoing): ₦10 billion
14. NASS Liabilities: ₦9.9 billion
15. National Institute for Legislative & Democratic Studies (NILDS): ₦9.01 billion
16. Completion of NILDS HQ: ₦4.5 billion
17. Alternative Power Supply (Solar Power System): ₦4 billion
18. NASS Recreation Centre: ₦4 billion
19. Design, Construction, Furnishing and Equipping of the National Assembly Budget & Research Office (NABRO): ₦4 billion
20. Procurement of Books for the NASS Library: ₦3 billion
21. NASS Zonal Liaison Offices: ₦3 billion
22. NASS Car Park Project – Senate: ₦3 billion
23. NASS Car Park Project – House of Representatives: ₦3 billion
24. Furnishing of Committee Meeting Rooms for House Representatives Building Part I & II: ₦3 billion
25. Upgrade of NASS Key Infrastructures: ₦3 billion
26. Design, Construction, Furnishing and Equipping of NASS Ultramodern Printing Press: ₦3 billion
27. Furnishing of Committee Meeting Rooms & other Offices within the Senate Building: ₦2.7 billion
28. NASS Pension Board (Take-Off Grant): ₦2.5 billion
29. Office of Retired Clerks And Perm. Secretaries: ₦1.23 billion
30. Constitution Review: ₦1 billion
31. Appropriation Committee Department – Senate: ₦200 million
32. Appropriation Committee Department – House: ₦200 million
33. PAC – House of Representatives: ₦150 million
34. PAC – Senate: ₦130 million

The budget further includes allocations for projects such as the National Assembly Service Commission, National Institute for Legislative & Democratic Studies (NILDS), Alternative Power Supply (Solar Power System), Recreation Centre, NASS Library Complex, and numerous others, each serving a specific purpose in advancing the goals and operations of the National Assembly.

The unveiling of this detailed budget reflects the National Assembly’s commitment to transparency, accountability, and fulfilling its constitutional responsibilities in serving the Nigerian people. As the fiscal year progresses, the effective implementation of these allocations will undoubtedly impact the legislative landscape and contribute to national development.

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