In the proposed FCT Statutory Budget of N1.15 trillion, N29 billion has been allocated to the ongoing rehabilitation of the Abuja Light Rail project.
This sum is part of the N726.3 billion designated for capital expenditure in the proposed statutory budget, as revealed by the Minister of the Federal Capital Territory, Nyesom Wike.
Wike shared these details during his budget presentation to the Senate and House Committees on FCT in Abuja on Monday.
Additionally, the Minister highlighted that besides the N29 billion allocated for the Abuja Light Rail project, the proposed capital expenditure in the budget includes N500 billion for commercial loans to finalise certain ongoing projects in Abuja.
Moreover, N80 billion is earmarked for SUKUK loan projects, and N117.3 billion is allocated to complete ongoing capital projects and other counterpart-funded related projects in the capital city.
More insights
- Wike also pointed out that in the proposed capital expenditure, the transport sector was allocated the sum of N69 billion, out of which N32 billion is earmarked for the construction of Bus Terminal Development at Kugbo, Jahi, and the Central Business District.
- Other critical projects to be executed by the Federal Capital Territory Administration (FCTA) in the 2024 FCT statutory budget proposal include the completion of roads B6 and B12, construction of access roads and car parks for the Abuja Light Rail, full scope development of roads N2 and N20.
- Additional capital-intensive projects include the full-scope development of arterial roads N20 from Northern Parkway to Outer Northern Expressway, the extension of Inner Southern Expressway from Southern Parkway (S8/S9) to Ring Road II, as well as the full-scope development of Kuje Road from Airport Expressway to the Outer Southern Expressway with a spur at Kyami District, among others.
What you should know about the Abuja Light Rail project
- In August 2023, the Federal Capital Territory Administration (FCTA) announced that an N5 billion contract was awarded to China Civil Engineering Construction Company to rehabilitate the Abuja Light Rail.
- The FCT Minister, Wike, has repeatedly mentioned that the rehabilitation of the Abuja Light Rail would be completed in tin to be commissioned in May 2024 to mark President Bola Tinubu’s one year in office.
- Recently, Nairametrics reported that Wike announced that the rehabilitation of the Abuja Light Rail project was 95% complete, emphasising the possibility of the May 24 inauguration.
- The Abuja Light Rail is poised to decongest traffic in the capital city residents in the capital city when it becomes functional, Wike had earlier announced.
