FG Allocates N1.3 trillion, 4.6% of its 2024 Fiscal Year Budget to Nigeria’s Health Sector
The Federal Government has earmarked a total of N1,336,263,783,101 for the health sector in the 2024 fiscal year budget of N28,777,404,073,861.
However, this allocation represents 4.6% of the total budget, deviating significantly from the 2001 Abuja Declaration’s recommendation that African governments allocate a minimum of 15% of their annual budget to the health sector.
This budgetary allocation raises concerns about meeting the healthcare needs of the nation, especially given the persistent challenges faced by the health sector.
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The 15% benchmark set by the Abuja Declaration is intended to ensure adequate funding for healthcare services and infrastructure development to enhance the overall well-being of the populace.
As the government navigates through fiscal planning, stakeholders in the health sector have called for a reassessment of budgetary priorities to align with international standards and address the healthcare demands of the growing population.
The medical and dental consultants’ association of Nigeria referred to the budget allocation as inadequate calling on all governments to increase budgetary allocations to the health sector.
The disparity between the allocated 4.6% and the recommended 15% underscores the importance of strategic resource allocation to fortify the health system against existing and emerging health challenges.
SOURCE: Nairametrics
