SON, ITF Get Zero Allocations for Capital Projects in 2016 Budget

The Standard Organization of Nigeria, SON, and the Industrial Training Fund, ITF, got zero allocations in the 2016 budget proposals recently presented to the National Assembly for consideration.
The two other agencies also affected are the Centre for Automotive Design and Development (CADD) and the National Automotive Council (NAC).
Out of the total N16.63bn proposed for the ministry and its agencies in the budget, N2.07bn, N970.28m, N112.76m and N146.81m were allocated for SON, ITF, CADD and NAC respectively for both overhead and recurrent expenditures.
The copy of the budget seen by Daily Trust showed that four agencies under the Federal Ministry of Industry, Trade and Investment got no budgetary allocation for capital projects in 2016.

The budget proposed a total of N6.09bn for capital projects across the ministry and its agencies out of which the headquarters is expected to spend N2.75bn on capital projects.

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) got the second lion’s share of the funds proposed for capital projects after the headquarters.
Out of the total of N1.50bn allocated to SMEDAN, N717.08m was set aside for capital projects, an indication that the federal government is serious with its job creation drive and support for small and medium enterprises.
The Nigerian Investment Promotion Commission (NIPC) got N217.76m for capital projects out of the total of N984.36m allocated to the commission while the Nigeria Export Promotion Council (NEPC) got N112.85m for capital projects out of the total of N839.50m allocated to the council.
The Consumer Protection Council (CPC) and the Nigeria Commodity Exchange (NCX) got N441.48m and N148.82m respectively for capital projects out of the total of N1.02bn and N303.75m respectively allocated to the agencies.

 

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