The House of Representatives on Wednesday, passed through second reading the N189.512 billion revised 2020 statutory budget of the Federal Capital Territory (FCT).
The revised budget is N88.843 billion lower than the initial N278.35 billion passed in 2019 for the 2020 financial year.
Titled: “A Bill for an Act to Authorise issue from the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration Account the Total Sum of N189,512,094,100.00 only of which the Sum of N71,898,469,314.00 only, is for Personnel Costs; and the Sum of N55,691,319,788.00 only is for Overhead Cost; while the Balance of N61,922,304,998. 00 only is for Capital Projects; for the Service of the Federal Capital Territory, the budget was referred to the House Committee on FCT.
Alhassan Ado-Doguwa, the majority leader of the House, moved for the second reading of the Bill which was seconded by the Minority Leader, Ndudi Elumelu.
Ado-Doguwa in a brief debate stated that the Appropriation Bill seeks to redress such challenges that were not envisaged in the initial appropriation Act, such as the real and present socioeconomic challenges brought about by the Covid-19 pandemic.
The House Leader said the Bill will enable the Federal Capital Territory to discharge its due responsibility fully and effectively.
The House also approved the report of its Committee on Aids, Loans and Debt Management on promissory notes programme and bond issuance to settle outstanding claims and liabilities of five (5) State Governments in the sum of N148.141 billion.
The States are Bayelsa to be given N38. 404 billion, Cross River; N18.394 billion, Ondo; N7.822 billion, Osun; N4.567 billion, and Rivers; N78.953 billion.
The approval followed the consideration of the report by the Committee on Supply chaired by the Speaker, Femi Gbajabiamila.
Chairman of the Committee on Aids, Loans and Debt Management, Ahmed Safana-Dayyabu stated that the report captures the commitment of the federal government through the issuance of promissory notes and bonds to the above-listed State governments for the reimbursement of funds expended by them for projects executed on behalf of the Federal government.
