KEY POINTS
- BudgIT exposes misallocated funds in Nigeria’s 2024 budget.
- N250 million allocated for Lagos solar lights by a research institute.
- BudgIT calls for a review of the Cocoa Research Institute’s budget.
BudgIT, a civic-tech non-profit organization has made a shocking reveal concerning the misallocation of funds in Nigeria’s budget for 2024, especially the N250 million ($156,250) that was allocated to the Cocoa Research Institute of Nigeria (CRIN) for solar street lights in Lagos. The discovery was made public on X (formerly Twitter) on Tuesday, raising questions about why the institute would spend money on things not related to it.
Key Budget Misallocations
BudgIT revealed that the various budget allocations created by the institute are not in alignment with what it does. For instance, N100 million ($62,500) was allocated for motorcycles in Osun, another N100 million ($62,500) for the construction of a health centre in Ondo and N200 million ($125,000) for renovating classrooms in Rivers State.
The organization also revealed more shocking expenditures, like the N148.7 million ($92,937) that is budgeted for the training and empowerment programs in Ondo State. Other allocations are N100 million ($62, 500) for various empowerment items for Rivers, and another N200 million ($125,000) for empowerment programs in Kano, as reported by the Guardian.
Other allocations are N200 million ($125,000) to construct classrooms in River State. N100 million ($62,500) for empowerment items in Osun; and another N100 million ($62, 500) for solar street lights in some places in Lagos, including Mushin and Festac Town. You can access other unrelated projects by the Cocoa Research Institute here: (https://budgit.org/fg-budget-dashboard).
The reveal by BudgIT gives us a glimpse into how funds are mismanaged in Nigeria. Imagine a Cocoa Research Institute budgeting funds for things that are not related to Cocoa or within the scope of its mission.
Call for Budget Review
BudgIT has called for a review of the budget, emphasizing that such misallocation of funds undermines the institute’s research mission.
The discovery comes amid broader concerns about Nigeria’s 2024 budget. In March, Senator Abdul Ningi alleged that N3 trillion was added to the budget by exaggerating the cost of things and adding expenditures that were not needed. His claims led to his suspension, though he was later reinstated in May.
