Sports Ministry To Spend N3.64bn On Acquisition Of ‘Non-Tangible’ Assets

The Federal Ministry of Youth and Sports Development is to spend a whooping N3.64 billion on what it termed as non-tangible assets this year, 2023. This was contained in the Ministry’s budget details for the year 2023 and obtained from the Budget Office of the Federation.

According to the documents, the breakdown of the non-tangible assets includes: Research and Development, Computer Software Acquisition,  Anniversaries/Celebrations and Monitoring and Valuation. 

For research and development, the Ministry will spend N3,334,306,287. While anniversaries/celebration will swallow a total of N201,516,366, computer software acquisition as well as monitoring and evaluation will cost N14,000,000 and N94,542,442 respectively. 

Also in the 2023 budget details, and in what is apparently a duplication, the Ministry of Youth and Sports Development in another place made another budgetary provision of N71.6 million for monitoring and follow up, N20m for purchase of computers and another N67.08m for computer consumables. 

The sum of N35 million was budgeted for the rehabilitation and repairs of the Ministry’s water facilities across the country. 

According to the documents sourced from the Budget Office of the Federation, the Ministry’s allocation for 2023, excluding the four agencies under its control, is N8.906 billion with the total personnel cost standing at N2.008 billion. While total overhead is N2.232 billion, the total capital is N4.664billion, amounting to the N8.906 billion  total allocation for the Ministry.