As part of its measures to conserve more revenues for other expenses, the federal government of Nigeria has announced the decision to end funding of professional bodies/councils from its statutory budget.
The decision was taken by the Presidential Committee on Salaries (PCS) at its 13th meeting that was recently held in Abuja.
According to a circular that was signed by the director-general of the Budget Office of the Federation, Ben Akabueze, the presidential council approved the discontinuation of budgetary allocation to the professional bodies/councils effective 1st January, 2024.
In the letter which was made available to Africa Today News, New York on Thursday morning, Akabueze said ‘I wish to inform you that, the Presidential Committee on Salaries (PCS) at its 13th meeting approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective 1st January, 2024.’
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The affected organisations include the Pharmaceutical Council of Nigeria, the Medical and Dental Council, the Nigerian Teachers Council, Nigerian Press Council, and the Institute of Chartered Accountants of Nigeria.
The purpose of the lette is to inform the affected organisations that in compliance with the PCS’s directive, the office will no longer make budgetary provisions for your institution, which means that you will be regarded henceforth as self-funded organization, Akabueze said.
‘For the avoidance of doubt, you will be required, effective 1st January, 2024 to be fully responsible for your personnel, overhead, and capital expenditures,’ Akabueze said in the letter that was titled: ‘Discountinuation of Funding of Professional Bodies and Councils from 2024 Budget, in line with the Decision of the Presidential Committee on Salaries.’
Meanwhile, when contacted the budget DG for his confirmation and how much the government would be saving from the stoppage of the funding of the professional bodies/councils, he did not respond.