The Federal Government of Nigeria plans to spend N252 billion (over half a billion US dollars) on various intervention funds.
This is contained in the breakdown of the signed 2022 Appropriation bill which is the legal document backing this year’s budget. Nigeria has earmarked a total of N17.2 trillion as Budgeted expenditure for 2022, the highest on record in Nigeria’s history.
Intervention funds are part of the Federal Governments stimulus programmes aimed at supporting small businesses, funding targeted capital projects and reducing poverty. The amounts were classified under capital projects.
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Breakdown
- A sum of N7 billion was earmarked for FGN SPECIAL INTERVENTION PROGRAMME: SOCIAL HOUSING (FAMILY HOMES FUND).
- Another N25 billion was for NIGERIA YOUTH INVESTMENT FUND.
- The government also included N100 billion each for ZONAL INTERVENTION PROJECTS and NATIONAL POVERTY REDUCTION WITH GROWTH STRATEGY (FGN COMMITMENT, INCLUDING NSIP UPSCALING).
- Finally, a sum of N20 billion was budgeted for SPECIAL INTERVENTION PROJECTS.
- The projects were captured under the budget head, Capital Supplementation
Read: CBN: Over N3 trillion (72%) of Intervention Funds remain outstanding
Nigeria plans to spend a total of N5.46 trillion as capital expenditure for the year out of the total budget expenditure of N17.2 trillion.
