15 federal universities budget N327.8bn for 2024

Fifteen federal universities across the country have proposed a cumulative budget of N327.8billion for their capital and recurrent expenditures for 2024. This is way lesser than half of what Lagos State budgeted for its recurrent expenditure for 2023.  Lagos budgeted N1.768 trillion for 2023 with a capital expenditure of N1.019 trillion, representing 58 per cent […]

Fifteen federal universities across the country have proposed a cumulative budget of N327.8billion for their capital and recurrent expenditures for 2024.

This is way lesser than half of what Lagos State budgeted for its recurrent expenditure for 2023. 

Lagos budgeted N1.768 trillion for 2023 with a capital expenditure of N1.019 trillion, representing 58 per cent of the 2023 budget.

Its recurrent expenditure, representing 42 per cent, was N748 billion, which includes personnel cost, overhead and debt services.

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But the top 15 budgets of government universities in the country have a total proposal of N327.8bn which includes their capital expenditure and recurrent.

According to a document seen in the Budget Office by our reporter, 1 University of Nigeria, Nsukka has a total budget of N36.6bn, University of Calabar: N29.5bn, Ahmadu Bello University: N29.2bn and Nnamdi Azikiwe University: N26.3bn.

Others include: University of Benin: N24.2bn, University of Ibadan: N23.4bn, University of Maiduguri: N22.3bn, University of Port Harcourt: N19.6bn, University of Lagos: N19.4bn, Obafemi Awolowo University: N17.1bn, Bayero University: N17bn, University of Tech, Owerri: N16.8bn, University of Jos: N16.2bn, University of Uyo: N15.6bn and National Open University: N14.6bn.

Many non-governmental organisations have been calling on the federal government and the National Assembly to increase the budgetary allocation to the education sector.

They said despite the United Nations’ goal for education, Nigeria remains one of the countries with the highest number of out-of-school children in the world, adding that Nigeria still has more than 10 million children out there who can’t afford education.

Going by UNESCO’s recommendation, Nigeria should spend between 15 – 20 per cent of its annual budget on the education sector.

However, a review of the federal government’s proposed budget revealed that the budget for education next year is less than seven per cent.