Following the plenary session’s adoption and endorsement of the harmonized report from the Senate and House of Representatives Committees on FCT concerning the 2024 FCT statutory appropriation, the Senate has passed a budget of N1.282 trillion for the Federal Capital Territory (FCT) for the fiscal year 2024.
The chairperson of the Senate Committee on FCT, Senator Ibrahim Bomoi was pivotal in presenting the detailed financial blueprint outlining the expenditure framework for the nation’s capital within the specified fiscal year.
N140.915 billion of the approved budget is earmarked for personnel costs, covering salaries and wages for government employees in the FCT, and overhead expenses, which include the day-to-day operational costs of FCT’s public services, have been allocated N373.027 billion.
Capital projects investment in the infrastructural and developmental needs of the FCT is to be given N768,328 billion. And the projects which is to start from January 1st to December 31st, 2024, is to enhance the living standards, boost economic growth, and improve the overall functionality of the Federal Capital Territory.
Meanwhile, the FCT Minister, Nyesom Wike, had appeared before the joint House Committee on FCT and the Committee on FCT Area Councils and Ancillary Matters on Monday to defend the proposed budget.
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