Three key government agencies in Nigeria, namely the Nigeria Deposit Insurance Corporation (NDIC), the Federal Inland Revenue Service (FIRS), and the Nigeria Immigration Service, are set to collectively spend more than N8.7 billion on computer software acquisitions in the year 2024. This significant allocation was revealed in the 2024 budget of government-owned enterprises (GOEs) recently released by the Ministry of Budget and National Planning.
NDIC takes the lead in software budget allocation for 2024, earmarking a substantial N5.2 billion, followed by FIRS with N3.5 billion, and the Nigeria Immigration Service with N874.5 million. These allocations highlight the government’s commitment to enhancing its technological infrastructure.
Despite this, concerns have been raised by the National Information Technology Development Agency (NITDA) regarding the substantial budgetary allocations for IT by public institutions without corresponding value. NITDA emphasized the need for a strategic repositioning of the deployment of IT products and services in public institutions to ensure the realization of value and the advancement of the citizens’ yearnings for a digital economy.
This significant investment in software comes against the backdrop of President Bola Ahmed Tinubu’s recent signing of the N28.7 trillion 2024 appropriation bill into law at the beginning of the year. This bold move signifies the government’s commitment to advancing technological capabilities and digitization across its agencies.
The substantial budgetary allocations and the attention drawn to the value derived from such investments by government agencies and NITDA reflect a broader commitment to leveraging technology to drive efficiency and effectiveness in public service delivery. This proactive stance underscores the government’s recognition of the pivotal role that technology plays in advancing Nigeria’s digital economy and underpins its determination to achieve this vision through strategic and purposeful allocations.
