Tinubu Approves N1.1 Trillion Budget for FCT

Julianah Ologunde
By Julianah Ologunde 1 Min Read

Tinubu Approves N1.1 Trillion Budget for FCT

President Bola Tinubu has given his approval for the Federal Capital Territory’s (FCT) statutory budget for the 2024 fiscal year, amounting to over N1.1 trillion. This announcement was made by the FCT minister, Nyesom Wike, during a media chat at his office in Abuja on Tuesday.

Tinubu Approves N1.1 Trillion Budget for FCT

Expressing his satisfaction with the president’s assent, Wike highlighted that the budget will have a significant impact on various sectors including infrastructure development, healthcare facilities, and the rehabilitation of schools in the FCT.

Tinubu Approves N1.1 Trillion Budget for FCT

The approval follows the FCT appropriation bill passing the second reading in the Senate the previous month. The breakdown of the N1.1 trillion budget reveals allocations of N280 billion for overhead expenses, N726 billion for capital projects, and N140 billion for personnel, totaling N1.147 trillion.

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During the debate, the bill’s sponsor and Senate Leader, Opeyemi Bamidele, emphasized that the appropriation bill considered the FCT administration’s revenue and expenditure forecasts aligned with the fiscal and developmental policies of the Federal Government.

 

 

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