By Abimbola Ogunnaike
President Bola Tinubu has approved the Federal Capital Territory’s over N1.1 trillion statutory budget for the 2024 fiscal year.
The FCT Minister, Nyesom Wike, made this disclosure on Tuesday, 2 April, 2024 during a media chat at his office in Abuja on Tuesday, 2 April, 2024.
He expressed delight over the assent by the President explaining that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools in the FCT, amongst others.
The development comes on the heels of the FCT appropriation bill passing the second reading at the Senate last month.
A breakdown analysis of the N1.1 trillion budget, indicated that N280 billion was earmarked for overhead, N726 billion for capital projects, and N140 billion for personnel, bringing the total budget to N1.147 trillion.
Leading the debate, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the Appropriation Bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.
