As part of its N20.51 trillion budget, the Federal Government, or FG, has proposed allocating N93.66 billion to the Ministry of Transportation's operations for the 2023 fiscal year.
According to a breakdown of the Ministry's budget, of the total N93,661,778,746 billion allotted to it, capital projects would consume N92.25 billion; overhead expenditures were given a proposal of N382.18 million, and the sum of N1 billion was set aside for staff costs.
According to a further breakdown of the budget, N1.14 billion of the N85.22 billion allocated for building and provision was set aside for road rehabilitation and repairs, while N84 million was allocated for both construction and provision and canal rehabilitation and repairs.
The ministry is to spend most of its capital budget on ongoing projects some of which include: activities of the Anti-Corruption and Transparency Unit (ACTU) in the ministry
and its agencies and entrenching transparency, compliance, ethics, achieving zero tolerance for corruption in the workplace, development
of code of conduct, and project monitoring for which it is proposing N30 million.
The federal government proposed N30,759,220,905 billion for the completion of Abuja-Kaduna; completion of Lagos-Ibadan and its associated additional works; rehabilitation of Itakpe-ajaokuta rail line and construction of 12 NOS station buildings and tracks laying works at railway ancillary facilities area Agbor, among others.
The construction of identification and installation of 30km speed reduction on road signage in high-risk areas (quarterly), was allotted N18 million, while an appropriation of 10bn was for Railway modernization.
N1.21 billion was also earmarked for the construction of office accommodation for the ministry.
However, the ministry also noted a surplus (Deficit) revenue over expenditure of -N93,661,778,746.