Osinbajo proposes N222bn for FCT in 2017

ACTING President Professor Yemi Osinbajo has asked the House of Representatives to approve the sum of N222,360,551,512,00 for the Federal Capital Territory, FCT as its 2017 budget.

From the sum, N128 billion was allocated for capital projects in the FCT for 2017, saying that 93 percent of the capital expenditure proposal was dedicated for on-going projects and seven percent for new projects.

The breakdown showed that N128 billion was proposed for Capital expenditure, N52.6 billion for Personnel while Overhead cost got N41.3 billion.

The acting President in his letter dated 20 July, 2017 and addressed to Speaker Yakubu Dogara explained that  the Federal Capital Territory Administration (FCTA) runs two budgets, National and statutory budgets.

According to him, “The FCT component of the national budget is funded directly by the Federal government for the provision of District infrastructural development, water supply, sewage treatment and infrastructural development of the Satellite towns of the FCT.

“The statutory budget on the other hand is funded from the statutory allocation, internally generated revenue (IGR) and other sources of funds accruable to the FCT.

“N30.4b was appropriated for FCT in the 2017 approved federal budget. The statutory budget is usually presented to the National Assembly after the passage of the Federal budget in order to enable the FCTA capture essential capital projects that are often removed from the federal budget.

“The FCTA has prepared the 2017 FCT statutory budget of N222,360,551,512,00 based on the 2017-2019 Medium Term Expenditure Framework  (MTEF) and the key assumptions of the Federal government for 2017 budget”.

The acting President noted that considering the need to complete on-going projects, 93 percent of the capital expenditure proposal is dedicated for such projects, while seven percent is for new projects mainly for the provision of access roads and social amenities.

“The expected IGR 9f the sum of N131.9b is to accrue from the major revenue generating agencies of the FCT which include the FCT Internal Revenue Service (FCT-IRS) Water Board, Abuja Geographic Information System (AGIS) and the Directorate of Road Traffic Services.

“The enormous debts owed these agencies have also been identified and adequate enforcement will be made towards recovery of these outstanding debts,” he stated.

Subsequently, the Speaker referred the letter to the House committees on FCT and FCT area councils for further legislative action.