The Senate, on Tuesday, passed the sum of N329,963,491,523 billion as a Statutory budget for the Federal Capital Territory for the year 2021.
The passage was sequel to the consideration of the report of the Committee on Federal Capital Territory on the FCT Appropriation Bill, 2021.
While submitting the report, Senator representing Borno North and chairman of the Committee, Senator Abubakar Kyari, gave the sum of N329,963,491,523 as projected revenue of FCT.
He further disclosed the sum of N74,323,382,813 and N58,728,614,466 as projected Personnel and Overhead Costs, respectively.
N196,911,494,243 is for Capital Projects for the 2021 fiscal year.
He said his Committee was satisfied with the overall performance of the FCT 2020 Statutory Budget Allocation which he put at 88 per cent as of December 31, 2020.
Kyari further disclosed that most of the projects executed by the Federal Capital Territory Administration (FCTA) and the Federal Capital Development Administration (FCDA) were still ongoing “due to overbearing ineptitude of getting the Due Process Certificates on time.”
He called the attention of the Senate to bureaucratic bottlenecks which he noted was responsible for the release of funds for new and ongoing projects in the FCT.
The lawmaker added that projected revenue accrued to FCT Administration was stretched by N30 billion naira, due to additional revenue derived from Additional Statutory Allocation received from the differential distributed from the Excess Crude Account for receipts from January to May 2021, and expected receipts for the remaining seven months of the year; and Stamp Duty Refunds.
According to him, the Committee on FCT consequently increased the fiscal framework to accommodate revenue receipts from additional statutory allocation and stamp duty fees to bring the total expenditure to N329,963,491,523 billion naira.
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Senate passes N329.9bn FCT budget for 2021
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