Power sector budget allocation increases by 44 per cent
03 January 2024 |
3:06 am
The federal government has allocated N344 billion to the power sector in the 2024 budget, an increase of 43.9 per cent when compared with N239 billion it received last year.
Power Sector
The federal government has allocated N344 billion to the power sector in the 2024 budget, an increase of 43.9 per cent when compared with N239 billion it received last year.
According to the appropriation bill, the power sector’s personnel cost is estimated at N4.59 billion.
The Ministry of Power has an allocated overhead cost of N2.63 billion and the capital costs amount to N336.88 billion, resulting in a total allocation of N344.097 billion for the power sector, as outlined in the appropriation act.
Last year, it got N239 billion with the personnel cost at N5.32 billion.
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