House committee presents 2020 FCT budget report
The House Committee on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters have presented the report on the 2020 FCT budget of ₦278.35 billion to the house for consideration.
Chairman of the committee, Rep. Abdullahi Garba, presented the report during plenary presided over by the Speaker of the House, Mr Femi Gbajabiamila on Wednesday.
The report presented was on a Bill for an Act to Authorise the issue from the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of ₦278,355,365,947.
The report stated that out of the amount allocated to the Statutory Revenue, ₦55,878,241,095 is for personnel costs and ₦62,343,723,435 is for overhead costs.
Also, according to the report, the balance of ₦160,133,401,417 is for capital projects for the service of the Federal Capital Territory for the year ending on Dec. 31, 2020.