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Budget for Power, Works and Housing

The power, works and housing (PWH) sectors play vital roles in the growth and development of any economy such that getting it right in these sectors (alongside a few other sectors like education, health, agric., transport and services) almost guarantees the development of such economy.

These three sectors (PWH) represent a huge share of the infrastructural needs of Nigeria as a country and rightly so, there have been investments into these sectors by way of budgetary allocations and through Public-Private Partnerships (PPPs).

The question is: are investments into these sectors enough to address the needs of the teeming Nigerian populace? We shall take a look at this by analyzing the Federal budgetary allocations to these three sectors with a special focus on the proposed 2019 FGN budgetary allocation to the Federal Ministry of Power, Works and Housing (PWH).

The proposed 2019 budget for the Federal Ministry of PWH is a total sum of N408.028 billion. This proposed sum represents a 5% of the overall 2019 FGN budget proposal of N8.826 trillion. T
he proposed sum (N408.028 billion) represents a 2.84% decrease from the actual sum allocated to the Federal Ministry of PWH in 2018 (N682.959 billion) and also represents a 2.88% decrease from the actual sum allocated to the ministry in 2017 (N553.713).
In terms of capital to recurrent allocation balance, the ministry’s trend of budgetary allocation, between 2016 and 2018, has been between 92-96% for capital expenditure and between 4-8% for recurrent expenditure. For 2019, the proposed sum is dis aggregated into 92.41% and 7.59% for capital and recurrent expenditures respectively.
This trend of allocation is in order considering that the constituents sectors under this ministry require huge capital investments.

However, there is room for improvement looking at the current level of infrastructural deficit in the country. For power, a little over 60% of Nigerians have no access to electricity while the others that do have, do not have steady supply.

In addition, there is problem of transmission capacity as the current transmission grid cannot carry more than 5,500 MW.

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For housing, it was reported by the Centre for Affordable Housing Finance Africa that Nigeria has about 17-20 million housing deficit. In addition, not all contributors to the National Housing Fund are able to get funds to meet their housing needs.

In the works sector, the poor state of roads in the country is reflective of the level of funds needed to ramp up the developmental efforts being made. In all, the available budgetary allocations and other infrastructural investments in these sectors have not been enough

Source: ThisDayLive

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