Tracka exposes misallocation of N628 billion in 2024 budget

In a recent analysis by Tracka, an open-source service delivery monitoring platform, it was revealed that the Nigerian federal government allocated 2,558 projects worth N628 billion to inappropriate agencies in the 2024 budget.

This discovery was announced by Budgit, a civil society organization and Tracka’s parent body, on Monday.

The analysis highlighted various instances of misplaced projects across different agencies, with the Small and Medium Enterprise Development Agency (SMEDAN) being a notable example.

Among the questionable allocations, SMEDAN was designated N5 billion for the purchase and distribution of official vehicles to traditional rulers in the six geo-political zones.

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Additionally, SMEDAN received N1.2 billion for operational vehicles in southwestern states and N1 billion for medical outreach services in selected communities in Kaduna State.

Inforgraph detailing misplaced projects in the 2024 Budget Source: Tracka

Inforgraph detailing misplaced projects in the 2024 Budget
Source: Tracka

Infograph detailing misplaced projects in the 2024 Budget Source: Tracka

The report also shed light on N732 billion allocated for ambiguous empowerment projects in the 2024 budget. It criticized the National Assembly for including vague budget lines, which pose challenges for fiscal transparency.

The report emphasized that empowerment projects, previously limited to constituency projects, have increasingly been inserted into capital projects by the National Assembly.

“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,” the report stated.

Further examples of budgetary anomalies were reported by FIJ in December 2023, highlighting how the Ministry of Women Affairs allocated approximately N2.5 billion from a N10 billion capital expenditure budget for buying refrigerators in the Senate President’s constituency. Allegations of budget padding led to turmoil in the National Assembly in March 2024.

In conclusion, Tracka called on anti-graft agencies to investigate these budgetary discrepancies to prevent misappropriation and embezzlement of public funds.