Senate on Tuesday, increased the 2024 Federal Capital Territory budget to about ₦1.3trn after the bill scaled third reading.
This is over ₦135bn increase from the proposed ₦1.1trn for the year 2024 fiscal year.
Presenting the breakdown, Chairman of the Senate Committee, Sen. Mohammed Ibrahim representing Yobe South, stated that- ₦140bN is for personnel cost, about ₦374bn is for overhead cost, while the balance of ₦768bn is earmarked for capital projects for the 2024 financial year.
While leading the debate last week, Senator 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.
During the debate, President of the Senate, Godswill Akpabio, said the bill presented earlier than usual, will be expeditiously considered and passed to encourage the Minister of the FCT to advance reforms in the nation’s capital.
