The News Agency of Nigeria (NAN) says it will spend N10 million to renovate its New York office as it presents the 2022 budget proposal of N2,201, 612,803.74 to the Senate Committee on Information and National Orientation for approval.

The Managing Director of the agency, Buki Ponle, made the presentation when he appeared before the committee headed by Danladi Sankara to defend the agency’s 2022 budget.

Mr Ponle said the capital component of the budget was N205,702,481, overhead, N215,401,467 while personnel; N1,780,508.

According to Mr Ponle, N149,369,292 is proposed as internally generated revenue (IGR) for 2022, while N205,702,481 is budgeted for procurement.

The managing director added that the projects to be executed included the operation of the Fixed Asset Register of the agency in line with the International Public Sector Accounting Standards (IPSAS) project of the federal government at N13,200,000.

A fixed asset register is a list of fixed assets that belong to an entity.

He said the agency would renovate its New York office at the cost of N10,000,000.

On the 2021 budget performance, Mr Ponle said the overall performance level as of the end of September from the total release of N1,511,712,681.71 was at 72 per cent.

“The capital component was 62 per cent, overhead component performance was 72 per cent, and the personnel was 72 per cent,” said NAN boss.

“We couldn’t have been where we are,” explained Mr Ponle while thanking the Senate committee. “Your input to the survival of the agency has really made a positive difference in the operations of the agency.”

The news agency MD was accompanied by directors and other top management staff to the Senate.

(NAN)