Reps pass N1.28trn 2024 FCT budget

The House of Representatives has approved the proposed budget of N1.28 trillion for the Federal Capital Territory (FCT) for the fiscal year 2024.

The budget was passed on Tuesday following its presentation for consideration by the Chairman of the House Committee on FCT, Rep. Mukhtar Betara (APC, Borno).

In his presentation, Betara stated, “The House do receive 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 Authorise the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N1,282,270,610,283.00 (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).”

Out of this allocation, N140.915 billion is earmarked for personnel costs, while N373.027 billion is allocated for overhead costs.

The remaining N768.328 billion is designated for capital projects to serve the needs of the Federal Capital Territory, Abuja.

It’s worth noting that FCT Minister, Nyesom Wike had previously appeared before the joint House Committee on FCT and the Committee on FCT Area Councils and Ancillary Matters to defend the proposed budget.

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