Senate Passes Improved N1.28Trn FCT Statutory Budget

By: Wisdom Acka

The Senate has approved N1.28 Trillion 2024 Statutory Budget of the Federal Capital Territory (FCT).

The budget was approved during Tuesday plenary following consideration of the harmonised report of the Senate and House of Representatives Committees on FCT.

Presenting the report, Chairman of the Committee on FCT, Sen. Ibrahim Bomai, said that the FCT had proposed N1. 15 trillion for the 2024 fiscal year.

Bomai explained that, after deliberations, the committee recommended N1.28 trillion; adding that from the projected revenue, N140 billion was for personnel cost.

He said that “N373 billion is for overhead cost, while N768 billion is for capital projects.”

Deputy Senate President, Sen. Jibrin Barau, who presided over the plenary, commended the committee for expediting the process of passing of the budget.

He stressed that the budget of the FCT would help in changing the fortunes of the capital city and make it one of the best cities in the World.

Abuja Digest recalls that the FCT Minister, Nyesom Wike, had stated earlier while defending the budget proposals, Monday, that it was designed to transform the Federal Capital City as well as the rural communities.

He further explained that the proposed capital expenditure would be dedicated to the development of infrastructures with emphasis on completion of on-going projects.

With additional reports from the News Agency of Nigeria [NAN].