The House of Representatives, on Wednesday, passed a budget of N329,963,491,523 for the Federal Capital Territory (FCT).
This was disclosed by Rep. Abdullahi Garba, Chairman, House Committees on Federal Capital Territory and FCT Area Councils and Ancillary Matters, after he presented the report of the Committees in Abuja, according to the News Agency of Nigeria.
It was revealed that the report was a bill for an Act to authorise the issue from the Federal Capital Territory Administration’s (FCTA) statutory revenue fund of the FCTA Account to the House for consideration.
The breakdown of the budget includes:
- N74,323,382,813.00 is for Personnel Costs.
- N58,728,614,466.00 is for Overhead Costs.
- N196,911,494,243.00 as balance for Capital projects for the Financial Year Ending 31 December.
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Earlier this year, the Federal Economic Council approved the sum of N82 billion for the completion and rehabilitation of infrastructure projects in the Federal Capital Territory. The projects range from the Federal Secretariat to the expansion of the outer Southern Expressway and many others.
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