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PenCom, PTAD to spend N1.39bn on capital projects in 2018

The National Pension Commission (PenCom) and the Pension Transitional Arrangement Directorate (PTAD) will spend a total of N1.39 billion out of the N4.25bn proposed for capital projects in the 2018 budget currently before the National Assembly.

The Daily Trust shows that the proposed capital expenditure allocation for the two pension agencies is N400bn higher than the N992.89 million proposed for the two agencies in the 2017 budget proposal.

A breakdown of the proposals show that PenCom has projected to spend N750 million on capital projects while PTAD has proposed to spend N642.89m on capital projects in 2018.

The overall capital and recurrent expenditures of the two agencies is N4.25bn, PenCom is to spend N849.92m while PTAD will spend N3.39bn in 2018.

Analysis of the key projects to be carried out by PenCom in 2018 include the construction of office buildings in three states in South South geopolitical zones estimated at N116.1m, construction of office building in Ilorin, Kwara State at N80m, construction of office building in Gombe state at N40m and construction of office building in Kano state at N50m.

PenCom also wants to continue the construction of office building in Awka, Anambra state at N50m, purchase/acquisition of land in three states in South East geo political zone at N60m and also the purchase/acquisition of land in three states of the South West Geo Political Zone at N100m.

The Commission also wants to purchase land in three states of the South South geo political zone N36.69m; purchase land in three states of the North Central zone at N60m; purchase land in three states in the North West for N45m and purchase lands in three states in the North East for N45m.

PenCom, which is the apex agency in charge of pension regulation in the country also plans to purchase lands in Kano and Anambra States at N 30.22m and N37m respectively.

Meanwhile PTAD will spend N10m to buy computers, N60.45m on purchase of power generating set, and N300.36m on rehabilitation and repairs.

Further analysis shows that PTAD will spend N205m on acquisitions of non-tangible assets in 2018.

Research and development will gulp N20m; computer software acquisition will cost N185m; rehabilitation/repairs of office buildings will cost N300.36m while purchase of office furniture and fittings will gulp N67.08m.

 

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