Politics
Wike Set To Borrow N500 Billion For 2024 Federal Capital Territory Budget
Wike Set To Borrow N500 Billion For 2024 Federal Capital Territory Budget....KINDLY READ THE FULL STORY HERE▶
During his appearance before the House Committee on FCT to defend the 2024 budget, FCT Minister Nyesom Wike appealed to the House of Representatives to authorize a N500 billion loan to complement the N1.147 trillion budget of the territory. Wike emphasized the necessity of borrowing from commercial banks to fund capital projects, proposing the N500 billion loan for this purpose.
However, concerns were raised by lawmaker Saidu Abdulahi from Niger State regarding the potential drawbacks of such borrowing from commercial banks. Abdulahi suggested exploring alternatives like the capital market to mitigate the financial burden associated with the proposed loan.
In his commitment to enhancing the revenue profile of the FCT, Wike pledged to revamp the land allocation system through the introduction of a new certificate of occupancy. He also highlighted instances of collusion between civil servants and dishonest individuals to defraud the government, aiming to address these issues within the system.
The budget breakdown revealed that N726 billion is allocated for capital expenditure, with N280 billion earmarked for overhead expenses and N140 billion designated for personnel costs.
Wike Urges Newly Appointed FCT Officials to Prioritize President Tinubu’s Agenda
During the swearing-in ceremony of newly appointed officials including the Head of Service, Permanent Secretaries, Chairman, and Commissioners of the FCT Civil Service Commission, Minister Nyesom Wike urged them to demonstrate loyalty and commitment to President Bola Tinubu’s administration.
Expressing gratitude to President Tinubu for establishing the FCT Civil Service Commission and appointing the officials, Wike emphasized the importance of their roles in advancing the Renewed Hope Agenda of the President. He urged them to uphold high standards of performance and efficiency, stressing the significance of supporting the government’s objectives for the benefit of Abuja’s development.
Wike also announced plans for reshuffling the posting of directors within the FCT, signaling a proactive approach towards optimizing administrative efficiency and accountability. He emphasized the imperative of swift and dedicated service delivery to meet the expectations of the administration and the public alike.
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Source: Bushradiogist
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