President Bola Tinubu has approved the statutory budget of N1.1 trillion for the Federal Capital Territory for the 2024 fiscal year.
FCT minister, Nyesom Wike, disclosed this during a media chat at his office in Abuja on Tuesday, April 2, 2024.
He expressed delight over the assent by the president, and explained that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools in the FCT, amongst others.
The development comes on the heels of the FCT appropriation bill passing the second reading at the Senate last month.
A breakdown analysis of the N1.1trn budget, indicated that N280bn was earmarked for overhead, N726bn for capital projects, and N140bn for personnel, bringing the total budget to N1.147tn.
Leading the debate, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the appropriation bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.
Politics Nigeria reports that Wike has also asked the House of Representatives to grant him the power to arbitrarily spend funds under the controversial “security vote” scheme.
Wike, while appearing before the House Committee on FCT to defend the N1.1 trillion budget of his ministry, said he needs the security vote to tackle the insecurity currently ravaging the Nigerian capital.
