The federal government has said that there will no longer be provisions for budgetary allocation to professional bodies and councils from the 2024 national budget.
In a communiqué dated 26 June 2023, the Ministry of Budget and National Planning noted that the institutions would become fully self-funded on 31 December 2026.
The communiqué, signed by the director-general of the Budget Office of the Federation, Ben Akabueze, said the decision was in line with the decision of the Presidential Committee on Salaries, PCS during its 13th meeting.
Akabueze stressed that the councils will be fully responsible for their personnel, overhead and capital expenditure from 31 December 2026.
The letter reads, “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 31st December 2026.
“The purpose of this letter, therefore, is to inform you that, in compliance with PCS’s directive, this Office will no longer make budgetary provisions to your institution with effect from the above-stated date, and you will be regarded as a self-funded organisation.
“For the avoidance of doubt, you will be required, effective 31st December 2026, to be fully responsible for your personnel, overhead, and capital expenditures.”
Professional bodies are institutions established for regulatory purposes. They decide, maintain and regulate the ethics of practice and conduct of members.
Some of the councils and bodies that will be affected by the new development include the Nigerian Bar Association (NBA), the Institute of Chartered Accountants (ICAN), the Chartered Institute of Administration (CIA), the Chartered Institute of Bankers of Nigeria (CIBN), Council of Registered Builders of Nigeria (CORBON), Council for the Regulation of Engineering in Nigeria (COREN).
Others include the Manufacturers Association of Nigeria (MAN), Medical and Dental Council of Nigeria (MDCN), Nigerian Institute of Architects (NIA), Nigerian Institute of Management (NIM), Nigerian Institute of Quantity Surveyors (NIQS), National Teacher’s’ Institute (NTI), Nigerian Medical Association (NMA), and Pharmacists Council of Nigeria (PCN), among others.
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