Posted by Amarachi on Tue 02nd Apr, 2024 - tori.ng
A detailed breakdown of the N1.1trn budget reveals that N280 billion has been allocated for overhead expenses, N726bn for capital projects, and N140bn for personnel, resulting in a total budget of N1.147tn.
Nyesom Wike
President Bola Tinubu has given a nod to the FCT's statutory budget of over N1.1 trillion, for the fiscal year of 2024.
The FCT minister, Nyesom Wike, announced this news during a media chat at his office in Abuja on Tuesday.
He expressed his satisfaction with the president’s assent and highlighted that the budget will have a positive impact on infrastructure development, healthcare facilities, and the rehabilitation of schools in the FCT, among other areas.
This development follows the successful passing of the FCT appropriation bill in the Senate last month.
A detailed breakdown of the N1.1trn budget reveals that N280 billion has been allocated for overhead expenses, N726bn for capital projects, and N140bn for personnel, resulting in a total budget of N1.147tn.
Earlier at the Senate, the bill’s sponsor and Senate Leader, Opeyemi Bamidele, took charge of the discussion by emphasizing that the appropriation bill carefully considered the FCT administration’s revenue and expenditure forecasts, which align with the federal government’s fiscal and developmental policies.