President Bola Ahmed Tinubu has approved the statutory budget of over N1.147 trillion for the Federal Capital Territory (FCT) for the fiscal year 2024.
The FCT minister, Mr. Nyesom Wike, who disclosed this during a media briefing in his office in Abuja on Tuesday, expressed satisfaction with the president’s assent to the bill passed by the National Assembly.
He said the budget will have a positive impact on infrastructure development, healthcare facilities, and the rehabilitation of schools in the FCT, among other areas, promising a judicious use of the budgetary allocation.
Persecondnews reports that this development comes one month after the Senate passed the FCT Appropriation Bill.
A breakdown of the N1.147 trillion budget reveals that N280 billion is allocated for overhead expenses, N726 billion for capital projects, and N140 billion for personnel.
Earlier at the Senate, the bill’s sponsor and Senate Leader, Mr. Opeyemi Bamidele, said the appropriation bill carefully considered the FCT administration’s revenue and expenditure forecasts, which align with the federal government’s fiscal and developmental policies.
Author
Leave a comment