Salaries, Overheads, Gulped Huge Chunk Of Our 2024 Budget- Finance Ministry

The Federal Ministry of Finance has pledged strategic resource allocation in the implementation of the 2025 budget.

The ministry disclosed that it spent most of its 2024 budget allocation on salaries and other overhead costs, the Finance Ministry said in a statement on Tuesday.

During the 2025 budget defence for the ministry, the Minister of State for Finance, Dr. Doris Uzoka-Anite said the ministry is working to deliver value to all Nigerians.

In her presentation before the House of Representatives Committee on Finance, she expressed optimism that strategic resource allocation and prudent management would drive the nation’s development priorities.

Anite said the “2025 budget has been carefully designed to align with national priorities, adding that it focuses on key areas such as economic development, infrastructure enhancement, and sustainable fiscal practices.”

Representing the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, she highlighted the ministry’s critical role in shaping fiscal policies and fostering economic growth.

She “Reaffirmed the Ministry’s dedication to building a stable, resilient, and thriving economy in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration.”

Presenting a summary of the budget performance for 2024, the Permanent Secretary of the Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, explained that the ministry’s 2024 budget had already been largely utilised.

She said the 2024 budgets has been channelled primarily on overheads, personnel expenses, and limited capital projects.

She added “The proposed 2025 budget includes provisions to address pressing needs.”

She explained that the additional resources will facilitate essential upgrades to the Ministry’s Headquarters.

Salaries, Overheads, Gulped Huge Chunk Of Our 2024 Budget- Finance Ministry is first published on The Whistler Newspaper