By David Obio
President Bola Tinubu has given approval for the release of N1.1trn statutory budget for the Federal Capital Territory, FCT, in the 2024 fiscal year.
The FCT minister, Nyesom Wike, stated this disclosed this during a media chat at his office on Tuesday.
Wike commended the federal government , saying that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools and others in the nation’s capital.
The development was consequent on the FCT appropriation bill passing the second reading at the Senate in March, 2024.
Analysis of the N1.1trn budget, shows that N280bn was dedicated to overhead and N726bn for capital projects, while the sum of N140bn was set aside for personnel, bringing the total budget to N1.147tn.
During the debate over the FCT budget at the Upper Chamber, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the appropriation had taken into consideration the FCTA’s revenue and expenditure projections, in alignment with fiscal and developmental policies of the Federal Government.
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