By Mercy Aikoye
The House of Representatives’ Committee on FCT has adopted a bill seeking approval for a N288 billion supplementary budget for the Federal Capital Territory Administration (FCTA). This move aims to accommodate additional inflows from Internally Generated Revenue (IGR) and Miscellaneous Revenues.
President Bola Tinubu’s letter to Speaker Tajudeen Abbas explained that the supplementary budget is necessary to fund critical developmental projects across the nation’s capital city. The total sum of N288 billion comprises N8 billion from IGR and N280 billion from Miscellaneous Revenues.
Chairman of the House Committee on FCT, Hon. Aliyu Muktar Betara, emphasized the need for swift consideration and passage of the Appropriation bill. He noted that most projects were already captured in the Statutory budget, and the Senate Committee on FCT is also working on the proposed Supplementary budget.
Betara explained that the Committee must lay the report on the Supplementary budget during Thursday’s plenary due to time-sensitive critical projects. According to the FCT Minister, most requested augmentations were already included in the 2024 statutory budget passed by the National Assembly.
The Minister confirmed that there are no new projects, except for two line items. After unanimous adoption, the Committee resolved to present the report during Thursday’s plenary.
President Tinubu expressed satisfaction with ongoing projects in the Federal Capital Territory, citing their positive socio-economic impact. He attributed this progress to his Renewed Hope Agenda.
The FCT 2024 Statutory Appropriation prioritizes capital projects, aiming to significantly impact manpower and infrastructural development within the territory.
However, to meet key FCT deliverables and the 30% Procurement Act requirement, additional funding is necessary for critical projects inadvertently omitted from the FCT 2024 Statutory Appropriation Act.
The supplementary budget aims to bridge this gap, ensuring timely completion of essential projects.
With the Committee’s adoption, the bill will proceed to the next stage, bringing the FCTA closer to realizing its developmental goals.
