Critical sectors such as health and education were among the most affected in the revised 2020 budget of N10.51 trillion.
The COVID-19 pandemic had forced the federal government to revise the already passed budget, with N2.95 trillion equaling N28 percent of it now earmarked for debt servicing.
In the revised budget obtained by TheCable, as much as 46 percent of the budgetary allocations (N4.9 trillion) was earmarked for recurrent expenditure with only 21 percent of it (N2.23 trillion) going into capital projects.
An analysis of the budget, however, showed that while allocations for key sectors significantly reduced, that of the national assembly was marginally affected.
Although the national assembly’s overall budget was reduced from N128 billion to N115 billion, the federal lawmakers got N27 billion for the renovation of the legislative complex, while N100 billion for the legislature’s constituency projects was intact.
Also, N2 billion was budgeted for the construction of the national assembly library — enough to construct 200 standard blocks of four classrooms at N10 million per block.
Despite Nigeria currently battling the COVID-19 pandemic, the capital budget for the federal ministry of health was slashed from N60 billion to N45 billion while the basic healthcare fund was slashed from N44.4 billion to N25.5 billion.
Also, the ministry of humanitarian affairs, disaster management and social development had its capital project slashed from N61 billion to N57.8 billion, while the ministry of agriculture and rural development suffered one of the greatest cuts — from N124 billion to N45 billion.
With Nigeria having at least 10 million children who are out of school, the education sector continues to suffer neglect. The Universal Basic Education fund was reduced from N111.7 billion to N51 billion while the capital project for the ministry of education was cut from N84 billion to N67.8 billion.