By Michael Eboh
oil Workers of the Ministry of Petroleum Resources and four other parastatals under the ministry will earn N74.65 billion as salaries and other emoluments in 2020, according to budget estimates presented by the Presidency to the National Assembly.
The amount earmarked as salaries and other emoluments for workers under the petroleum ministry is far higher than the N43.957 billion budgeted as salaries and wages for workers in the Ministry of Foreign Affairs; higher than the N32.18 billion, N4.661 billion, N4.248 billion and N12.09 billion budgeted for workers in the Presidency, Ministry of Power, Ministry of Justice and Ministry of Works and Housing respectively.
In the budget document, the presidency is proposing total expenditure of N10.33 trillion, including statutory transfers of N556.7 billion, non-debt recurrent expenditure of N4.88 trillion and N2.14 trillion of capital expenditure (excluding the capital component of statutory transfers).
Debt service is estimated at N2.45 trillion, and provision for the Sinking Fund to retire maturing bonds issued to local contractors is N296 billion
Conversely, the sum of N8.155 trillion is estimated as the total Federal Government revenue in 2020 and comprised oil revenue N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenues of N3.7 trillion.
Specifically, the total allocation to the Ministry of Petroleum Resources and the four parastatals in the budget was N79.297 billion, comprising total recurrent expenditure of N75.96 billion and total capital allocation of N3.337 billion, representing 95.79 per cent and 4.21 per cent of the total allocation to the ministry respectively.
The staff of the DPR are to receive the highest salary and emoluments in the petroleum industry in 2020, with N37.52 billion budgeted for the agency as personnel cost, representing 50.26 per cent of the total personnel cost of the entire industry.
Workers of the PTI followed with N14.86 billion, representing 19.91 per cent of the total allocation, while staffers of the PPPRA, NNRA and Ministry of Petroleum Resources (Headquarters) are to collect N11.21 billion, N10.37 billion and N690.16 million as salaries respectively, accounting for 15.02 per cent, 13.89 per cent and 0.92 per cent of total personnel cost of the ministry.
On the allocation for capital expenditure, the Presidency earmarked N1.45 billion for the Ministry of Petroleum Resources (Headquarters); N1.04 billion and N842.61 for the PTI and NNRA respectively.
Key budget items in the Ministry of Petroleum Resources (Headquarters) included the allocation of N127.950 million for the development and management of the ministry’s oil and gas database; coordination of public service reform to gulp N30 million; legal services and litigation to gulp N151.336 million, while N75.668 million was earmarked for the implementation of the new gas policy.
The ministry budgeted N113.5 million, N87.02 million and N113.5 million for oil and gas sector reforms, implementation of seven big wins, and automation of ministry of petroleum resources operations e-library and annual subscription.