N344.85bn for National Assembly Could Cover 27 Federal University Budget.
The National Assembly’s 2024 budget of N344.85 billion has raised significant concerns due to its size, surpassing the annual budgets of 20 Nigerian states and potentially funding over 27 federal universities. This budget is seen as extravagant, especially given the economic hardships faced by millions of Nigerians.
Key Details:
- Funding Capacity: The N344.85 billion could cover the combined budgets of universities like the University of Lagos, Obafemi Awolowo University, and University of Ilorin, among others.
- Senator’s Running Costs: Senator Abdurrahman Kawu Sumaila revealed that each senator receives N21 million monthly for running costs, contrary to official figures from the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), which states senators earn about N1.06 million monthly.
- Criticism and Calls for Reform: The National Assembly’s spending has faced criticism, with calls for a reduction in its budget and a leaner legislative body. Historical data shows similar concerns, with past claims about the National Assembly consuming a large portion of the national budget.
This allocation reflects ongoing debates about the appropriateness of legislative spending amid broader economic challenges and calls for increased transparency and accountability in governance.
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