Home Economy 2024 Budget NAF gets N30bn to acquire 6 attack helicopters military to continue assaults on terrorists, bandits

2024 Budget NAF gets N30bn to acquire 6 attack helicopters military to continue assaults on terrorists, bandits

by Business News Report

Nigerian Air Force has been allocated across the country as N30. 932 billion in 2024 for it to acquire six T-129 Attack Helicopters as it gears up for a sustained assault on terrorists and bandits  across the country. According to the 2024 budget proposal now being considered by the federal legislature, another N2. 684 billion has been set aside as part-payment for the overhaul of three Alpha Jet aircraft, in addition to 3 the N506. 060 million provided as balance payment for the procurement of two AW 109 Trekker Helicopters. The sum of N7. 744 billion was also budgeted for the procurement of various Platforms/Aircraft arms and ammunition. Meanwhile the Economic and Financial Crime Commission EFCC is allocated the sum of N42.109 billion to fight corruption. According to the budget provision N37. 073 billion is to be spent on personnel cost, out of which, N17 billion was provided for salary and N19. 816 billion will go into allowances; while Overhead cost got an allocation of N4.794 billion.

According to the 2024 b budget figures officials of the EFCC are to spend the sum of N1.732billion on travels and transport. The National Financial Intelligence Unit also got an allocation of N7.534 billion. Out of which Personnel Cost was allocated the sum of N5.799 billion; N1.331 billion; and capital vote of N 403.800 million. The commission received a capital vote of N1. 241 billion to be spend basically on the purchase of motor vehicles, office furniture and fittings, as well as, computer software, with each of the three capital components allocated N413. 745 million each. In the oil sector, the federal government provided the sum of N1.5 billion for the take-off of the Ministry of Petroleum Incorporated which is expected to do petroleum business for the government, like the Ministry of Finance Incorporated (MOFI) which oversees the federal government investments across various sectors. The executive has also allocated the sum of N200 million for a review of the Petroleum Industry Act (PIA), which is yet to be fully implemented. A study of the comparative advantages of Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG) , Natural Liquefied Gas ((LNG) and CLNG for sustainable transition was allocated N100 million in the proposed budget. In the 2024 N4 billion was allocated for fresh Ajaokuta concession. After several failed attempts, the federal government plans to under take another concession arrangement of the multi-billion dollar Ajaokuta Steel Company Limited (ASCL), with an allocation of N4 billion in the Appropriation Bill, now under consideration at the National Assembly. Another N800 million was provisioned for Transaction Adviser services, while budgeting another N200 million for revitalising ASCL and the National Iron Ore Mining Company (NIOMCO).

ASCL itself was allocated N4.454 billion as running cost in the fiscal year, with the bulk of the budget going to Personnel cost which was provisioned N4.296 billion.  The sum of N2.624 billion was allocated to salaries and ages; allowances and wages N1. 671 billion; social contributions 393. 667 million; and an overhead budget of N100. 216 million. Notwithstanding the plan to concession the Ajaokuta Steel Company, the federal government has set aside the sum of N2.7 billion for the provision of technical support to Small and Medium Enterprise in the metals sector for growth and development with focus on foundry production of tools, spare parts and machine parts with the training to be conducted at the Ajaokuta Training Centre. The budget also makes a N80.71billion provision for transportation. The sum of N33.149bn fis made for Abuja-Kaduna, Lagos-Ibadan project completion, others. Lagos-Ibadan, Abuja-Kaduna rails allocated N33 billion. The details of the budget showed that N33 billion was earmarked for rail way projects on Abuja-Kaduna, completion of Lagos-Ibadan and it’s associated additional works.

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