- The House of Representatives approves the proposed ₦1.28 trillion Federal Capital Territory (FCT) budget for 2024
- The budget allocation includes funds for personnel costs, overhead costs, and capital projects to serve the FCT, Abuja
The House of Representatives has approved the proposed Federal Capital Territory (FCT) budget of ₦1.28 trillion for the 2024 fiscal year.
On Tuesday, the budget received approval after being presented for consideration by Rep. Mukhtar Betara (APC, Borno), Chairman of the House Committee on FCT.
Betara introduced the bill, stating, “The House has received the Report of the Committees on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters on a Bill for an Act to Authorize the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of ₦1,282,270,610,283.00 (One Trillion, Two Hundred and Eighty-Two Billion, Two Hundred and Seventy Million, Six Hundred and Ten Thousand, Two Hundred and Eighty-Three Naira only).”
The budget allocation includes ₦140.915 billion for personnel costs, ₦373.027 billion for overhead costs, and the remaining ₦768.328 billion for capital projects to serve the Federal Capital Territory, Abuja.
Previously, FCT Minister Nyesom Wike had defended the proposed budget before the joint House Committee on FCT and the Committee on FCT Area Councils and Ancillary Matters during a session on Monday.
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