The Federal Government has decided not to include 26 professional bodies and agency councils in its 2024 financial allocations.
This decision is intended to accomplish a cost-saving measure; as stated in a document posted on the website of the Budget Office of the Federation, the administration hopes to save N27.72 billion in the 2024 budget.
Ben Akabueze, the Director-General of the Federation’s Budget Office, has previously declared that professional groups and councils will no longer receive financial funding as of December 31, 2023.
The budget for 2024 will now reflect this decision, demonstrating the government’s commitment to sound financial management
The formal communication of this decision was conveyed through a letter dated June 26, 2023, marked DG/BDT/GEN. CORR/2016/XII/3067.
The letter was specifically addressed to the Registrar of the Nigerian Council of Food Science and Technology, an agency under the Federal Ministry of Science, Technology, and Innovation.
This move is part of broader efforts by the government to streamline budgetary allocations and enhance financial discipline.
The exclusion of these professional bodies is expected to contribute to more efficient resource management and allocation across government agencies and initiatives.
Professional bodies to self-fund N27.72 billion budget in 2024
The letter titled “Discontinuation of Funding of Professional Bodies and Councils From 2024 Budget, In Line With The Decisions Of The Presidential Committee On Salaries,” explicitly outlines that the affected institutions are now considered self-funded organizations. Consequently, they will be entirely responsible for covering their personnel, overhead, and capital expenditures going forward.
This strategic shift aligns with the recommendations of the Presidential Committee on Salaries, emphasizing a move toward greater financial autonomy for these entities.
The letter partly read: “I wish to inform you that, the Presidential Committee on Salaries, at its 13th meeting, approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective December 31, 2023.
“The purpose of this letter, therefore, is to inform you that, in compliance with PCS’s directive, this Office will no longer make: budgetary provisions to your Institution with effect from the above-stated date, and you will be regarded as a self-funded organisation.
“For the avoidance of doubt, you will be required, effective December 31, 2023, to be fully responsible for your personnel, overhead and capital expenditures. The request for exemption by the council may have been granted.”
This shift marks a significant transition toward financial self-sufficiency for these organizations
