The Minister of Humanitarian Affairs and Poverty Alleviation, Dr. Beta Edu, has sounded an alarm regarding the inadequacy of the allocated funds in the 2024 budget to effectively tackle poverty in Nigeria.
Speaking before the Joint National Assembly Committee of Humanitarian Affairs and Poverty Alleviation, chaired by Senator Idiat Adebule, on Tuesday, the minister emphasized the shortcomings of the proposed 2024 budget.
Edu stated that despite a 28 per cent increase in the overhead ceiling to N532.5 billion to counter inflationary effects, this increase fell short of matching the current inflation rate of 27.33 per cent in the economy. Additionally, there was a concerning 71 per cent reduction in the capital budget ceiling, dropping from N3.7 billion in 2022 to N1.328,316 billion in 2023.
She pointed out that the minimal increase to N1.535 billion in the capital ceiling for 2024 does not align with the ministry’s crucial mandate to alleviate poverty in the country, considering the significant reductions in previous years.
The minister stressed the need for a more substantial allocation, citing the creation of the Humanitarian and Poverty Eradication Trust Fund, which was recently approved by President Bola Ahmed Tinubu.
Edu noted that this trust, aiming to receive contributions from various sectors, including the government, donor agencies, the private sector, and innovative resource mobilization funds, was not adequately reflected in the ministry’s current budget allocation.
In response to queries from the committee, Edu confirmed that although the proposal for the Trust Fund was presented during the budget planning stage, it was not reflected in the ministry’s budget allocation. She expressed her commitment to rectifying this omission by presenting a memo to the committee for consideration in the appropriation process.
Edu assured the committee of her ministry’s accountability in executing any budget appropriations and highlighted the crucial role of a well-funded budget in meeting the nation’s poverty eradication goals.
The minister urged the committee to reconsider and ensure the inclusion of adequate budget lines and appropriations to effectively address poverty in Nigeria.
“We would want to say that you can hold us accountable for full implementation of whatever is appropriated to our ministry,” Edu stated.
The committee promised to review the presented memo and work toward addressing the budgetary concerns raised by the minister to effectively combat poverty in the country.
The appropriation committee is expected to further deliberate on the matter to ensure an appropriate and sufficient allocation for the Ministry of Humanitarian Affairs and Poverty Alleviation in the 2024 budget.
