Senator Bomai noted that the FCT had proposed N1.15 trillion for the 2024 fiscal year, however, after deliberations from the committee, it recommended N1.28 trillion.
The Senate has passed a sum of N1.28 trillion for the Federal Capital Territory, FCT 2024 Statutory Budget.
The budget was approved following the presentation of the harmonised report of the joint Senate and House of Representatives Committees on FCT, by Senator Ibrahim Bomai (APC, Yobe South) during Tuesday’s plenary.
OrderPaper recalls that the Minister of the Federal Capital Territory, Nyesom Wike, while defending the budget before the Senate on Monday, requested permission from the Senate to include a security vote in the N1.1 trillion in the FCT 2024 budget.
Out of the proposed N1.147 trillion budget indicated, N140 billion was earmarked for personnel costs, while N280 billion was earmarked for overhead and N726 billion for capital projects.
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Senator Bomai who chairs the Committee on FCT noted that Wike had proposed N1.15 trillion for the 2024 fiscal year, however, after deliberations from the committee, it recommended N1.28 trillion.
“From the projected revenue, N140 billion is for personnel cost, N373 billion is for overhead cost while N768 billion is for capital projects,” he said.
The Deputy Senate President, Senator Jibrin Barau, who presided over the plenary, commended the committee and assured that the budget will play a significant role in transforming the nation’s capital into one of the greatest cities in the world.
