President Muhammadu Buhari proposed a capital expenditure of N48 billion for the Ministry of Education in the 2020 appropriation bill he submitted to the National Assembly on Tuesday.However, the president did not mention the recurrent expenditure for the education sector in his budget speech.
Debt service is estimated at N2.45 trillion, and provision for a Sinking Fund to retire maturing bonds issued to local contractors is N296 billion. The president proposed N3.6 trillion for personnel and pension costs, giving that recurrent bill an increase of N620.28 billion when compared to the 2019 budget.
Although the N605 billion allocated to the education sector in 2018 was higher in naira terms than the N550 billion allocated in 2017, there was a decrease in percentage terms. The breakdown of the 2017 allocation was N398 billion for recurrent expenditure, N56 billion for capital expenditure and N95 billion to UBEC.
But there are other ways education benefited in the budget.. 1. NEDC 2. UBEC - 112b Etc
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