A recent analysis by Tracka, an open-source service delivery monitoring platform, has revealed alarming discrepancies in the 2024 federal government budget.
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According to the report, 2,558 projects worth N628 billion were allocated to the wrong agencies, with the Small and Medium Enterprise Development Agency (SMEDAN) being a notable example.
The report stated that SMEDAN received allocations for projects outside its mandate, including N5 billion for purchasing and distributing official vehicles to traditional rulers and N1.2 billion for operational vehicles across southwestern states. Additionally, SMEDAN was allocated N1 billion for medical outreach services in Kaduna State.
The report also highlighted the allocation of N732 billion to vague empowerment projects, which could pose challenges for fiscal transparency. According to Tracka, these projects have gradually become embedded in capital projects through National Assembly insertions.
“Previously, empowerment projects were limited to constituency projects, but over the years, they have gradually seeped into capital projects through insertions by the National Assembly,” the report reads.
“In the 2024 federal government budget, there are 4,440 empowerment projects. Tracka maintains that empowerment projects are vague and challenging to track due to their nature.
These projects are also used as a funnel to transfer public resources to party loyalists, resulting in the misuse of public funds.”
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This revelation comes on the heels of previous reports of budgetary irregularities, including the allocation of N2.5 billion for refrigerators in the Senate President’s constituency and allegations of budget padding in March 2024.
Tracka has urged anti-graft agencies to investigate these budgetary anomalies to prevent misappropriation and embezzlement.
