By Seyi Babalola
The Senate has approved the FCT 2024 Statutory Budget of N1.28 trillion.
The budget was adopted after the Senate and House of Representatives FCT Committees’ harmonised report was considered in plenary on Tuesday.
Sen. Ibrahim Bomai, Chairman of the Committee on FCT, presented the report, stating that the FCT requested N1. 15 trillion for the fiscal year 2024.
Bomai stated that the committee, after consideration, proposed N1.28 trillion, with N140 billion of the estimated income going toward staff costs.
“N373 billion is for overhead cost while N768 billion is for capital projects,” he said.
In his remarks, Deputy Senate President, Senator Jibrin Barau, who presided over the plenary, commended the committee for expediting the process of passing of the budget.
He said 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.
The FCT Minister, Nyesom Wike, had on Monday, while defending the budget, said that it was designed to transform the capital city and rural communities.
He explained that the proposed capital expenditure would be dedicated to the development of infrastructures with emphasis on completion of ongoing projects.
