Latest NPower News For Today Thursday 24th November 2022

Latest NPower News for today Thursday 24th November 2022, can be accessed below.

In today’s Latest Npower News For Thursday 24th November 2022, we will be updating you on the 2023 budget proposal that the Humanitarian Ministry presented to the Senate committee on special duties. So keep reading!

The continuity of the Npower and other NSIP programmes in 2023 depends on the Ministry 2023 budgets. And so!

The Honourable Minister, Ministry of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq, has presented the Ministry’s 2023 budget estimates to the Senate Committee on Special Duties at National Assembly, Abuja.

The Minister who was accompanied by the Permanent Secretary and Directors of the Ministry during the budget defense stated that the total sum of N35,595,233,430.00 only was allocated to the Ministry’s Headquarters in the 2022 appropriation Act. The budget comprises a total recurrent expenditure of N1,073,705,755.00 only and a total capital allocation of N34,510,760,413.00.

On the performance of the 2022 budget, the Minister revealed that the total sum of N291,652,083.36 only or 58.3% of the total overhead expenditure was released as at 30th September 2022 while the sum of N1, 810,565,093.45 or 48.00% was released for Capital Expenditure for the same period.

She further disclosed that the total sum of N288,041,185.32 million, or 98.76% of the total amount released for overhead cost was utilized and committed, while 99% of the total Capital releases, or the sum of N1,799,286,437.81 only was utilized and committed to finance Capital projects of the Ministry.

On the 2023 budget estimate, the Ministry’s 2023 overhead ceilings were increased from the sum of N499,975,000 in 2022 to the sum of N512,474,375 in 2023. This represents a 7% increase over that of 2022; to cushion the effect of inflation

Faroug, said It is pertinent to note that the 7% increase in the overhead ceiling is not commensurate to the 20.77% inflationary rate in the economy, conversely, the capital budget ceiling was reduced from the sum of N3,749,510,414.00 to N1,083,01 7,733 which represents 71% reduction in the 2022 capital budget.

She said, “it is pertinent to note that the 71% reduction in Capital and 7% paltry increase in Overhead is grossly inadequate to run its day-to-day operation”.

Adding that for the Ministry to have seamless operations and accomplish its mandate which is very critical to overall National Development, the Ministry is requesting an increase/ upward review of its Capital and Overhead.

Earlier in his Remark, the Chairman Senate Committee on Special Duties, Senator Yusuf Yusuf, on behalf of the members of the Committee thanked the Minister and her team for the 2022 budget performance and also urged the Ministry to redouble its efforts in carrying out its humanitarian programmes and interventions in the Country.

In attendance were the Permanent Secretary, Dr. Nasir Sani-Gwarzo, mni, NPOM, and the Directors of the Ministry.