BusinessDay
NigeriaDecides2023

Reps okay N607.9bn budget for FCT

The House of Representatives on Tuesday, approved the N607.9 billion budget estimate for Federal Capital Territory (FCT) in the 2022 fiscal year.

The approval followed the consideration of the report of the House Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary matters by the committee of supply at plenary.

Out of the total amount, the sum of N76.5 billion is for personnel costs, N127.6 billion is for overhead costs; while the balance of N403.7 billion is allocated to capital projects.

The report laid by Abdullahi Garba chairman of the committees stated that: “the House do consider the Report of the Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary Matters on a Bill for an Act to Authorise the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N607, 952,023,580.00 only.

Read also: Senate begins review of Onochie, 14 others for NDDC appointments

“Of which the sum of N76,570 billion is for personnel costs; and the sum of N127,603 billion is for service of the FCT, Abuja, for the financial year commencing from 1 January, 2002 and ending on 31 December, 2022.

“The Director of Treasury of the Federal Capital Territory Administration shall, when authorised to do so by warrants signed by the Minister, FCT Administration with responsibility to pay out of the FCT Administration Statutory Revenue Fund of the Federal Capital Territory Administration during the financial year 2022 the sum specified by the warrants, not exceeding in the aggregate N607.952 billion.

“The amount mentioned in Clause (1) of this Clause shall be appropriated to heads of Expenditure as indicated in the schedule to this Bill.

“All amounts appropriated under this bill shall be made from the Federal Capital Territory Administration Statutory Revenue Fund only for the purposes specified in the schedule to this bill.”