NDIC budgets N5.2bn for procurement of ICT software, N1bn on publicity in 2024

January 11, 2024 1:16 pm

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The Nigeria Deposit Insurance Corporation (NDIC) says it will spend N5.2 billion for the procurement of information communication technology (ICT) software.

This is contained in the 2024 government-owned enterprises (GOE’s) budget proposal submitted to the federal government.

In the proposed budget, the NDIC earmarked a total of N130.2 billion for expenditure and N260.5 billion for revenue.

Out of the proposed expenditure, the corporation intends to spend N5.2 billion on ICT software and N947 million on “IT infrastructure software”.

For the purchase of its fixed assets pegged at N2.1 billion, the GOE looks to spend N703 million on vehicles, N165 million on trucks, N180 million on buses, N330 million on office furniture and fittings, N498 million on photocopying machines, and N220 million on power generating sets.

More so, NDIC allocated N5.3 billion for welfare packages, N1.6 billion for publicity and advertisements, noting that refreshments and meals for the commission would gulp N991 million.

The agency further budgeted N1.3 billion for utilities. This amount will cover electricity charges (N541 million), telephone charges (N239 million), internet charges (N200 million), and software charges and licence renewal (N399 million).

Also included in the budget is N3.5 billion earmarked for maintenance and N3.9 billion for local training.

NDIC said it will also expend N4.8 billion for both local and foreign travel and transport costs.

President Bola Tinubu had slashed the number of people on entourages for international and local travel by 60 percent.

The move came a month after controversy trailed the federal government spent at least N2.7 billion to sponsor delegates that attended the United Nations’ annual climate summit, COP28 in Dubai.

Nigeria’s delegation at the conference was 1,411.

There have also been concerns about huge budgetary allocations for local and international trips by government-owned enterprises.

At a news conference on January 9, 2024, Ajuri Ngelale, presidential spokesperson, said the directive was part of the cost-cutting measures of the presidency.