House Of Representatives Approves 2024 Federal Capital Territory Budget Of $1.28 Trillion

House Of Representatives Approves 2024 Federal Capital Territory Budget Of $1.28 Trillion

The House of Representatives has given its approval to the N1.28 trillion budget designated for the Federal Capital Territory (FCT) for the 2024 fiscal year. This substantial financial plan was endorsed on Tuesday, marking a pivotal milestone in the legislative process for the annual fiscal planning of the nation’s capital.

The budget received passage after its presentation to the House by Representative Mukhtar Betara, Chairman of the House Committee on FCT, representing the All Progressives Congress (APC) from Borno. Betara, during the bill’s presentation, stated, “The House has received 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 Authorize 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.”

Of this total, N140.915 billion is allocated for personnel costs, N373.027 billion for overhead costs, and the remaining N768.328 billion for capital projects serving the Federal Capital Territory, Abuja.

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

For more information join our WhatsApp group by clicking the link here: WhatsApp Group Invite