House Approves N607.9 Billion Budget for FCT

November 30, 2022
36 Views

/* custom css */
.tdi_59.td-a-rec{ text-align: center; }.tdi_59 .td-element-style{ z-index: -1; }.tdi_59.td-a-rec-img{ text-align: left; }.tdi_59.td-a-rec-img img{ margin: 0 auto 0 0; }@media (max-width: 767px) { .tdi_59.td-a-rec-img { text-align: center; } }
Advertisement

The House of Representatives yesterday approved N607.9 billion budget estimate for the Federal Capital Territory (FCT) for the 2022 fiscal year.

The approval followed the consideration and adoption of the report of the House Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary matters by the committee of supply at plenary.

Out of the total amount, the sum of N76.5 billion was for personnel cost; N127.6 billion would be for overhead cost; while the balance of N403.7 billion was allocated to capital projects.

/* custom css */
.tdi_58.td-a-rec{ text-align: center; }.tdi_58 .td-element-style{ z-index: -1; }.tdi_58.td-a-rec-img{ text-align: left; }.tdi_58.td-a-rec-img img{ margin: 0 auto 0 0; }@media (max-width: 767px) { .tdi_58.td-a-rec-img { text-align: center; } }


The report laid by Chairman of the Committee, Hon. Abdullahi Garba stated that: “The House do consider the Report of the Committees on Federal Capital Territory Administration and Federal Capital Territory Area Council and Ancillary Matters on a Bill for an Act to Authorise the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N607, 952,023,580.00 only.

“Of which the sum of N76,569,904,857.00 only, is for personnel costs; and the sum of N127,603,382,310.00 only, is for overhead costs; while the Balance of N403,778,736,413.00 only, is for capital projects; for the Service of the FCT, Abuja, for the financial year commencing from 1 January, 2002 and ending on 31 December, 2022.

“The Director of Treasury of the Federal Capital Territory Administration shall, when authorised to do so by warrants signed by the Minister, FCT Administration with responsibility to pay out of the FCT Administration Statutory Revenue Fund of the Federal Capital Territory Administration during the financial year 2022 the sum specified by the warrants, not exceeding in the aggregate N607,952,023,580.00.

“All amounts appropriated under this bill shall be made from the Federal Capital Territory Administration Statutory Revenue Fund only for the purposes specified in the schedule to this bill.”

Source; https://www.thisdaylive.com/index.php/2022/11/30/house-approves-n607-9-billion-budget-for-fct

/* custom css */
.tdi_60.td-a-rec{ text-align: center; }.tdi_60 .td-element-style{ z-index: -1; }.tdi_60.td-a-rec-img{ text-align: left; }.tdi_60.td-a-rec-img img{ margin: 0 auto 0 0; }@media (max-width: 767px) { .tdi_60.td-a-rec-img { text-align: center; } }

You may be interested

Help End Sit-at-home by Coming Out for Work on Mondays — Anambra CP Advises Shuttle Drivers, As Govt Relaxes 2-Year-Old Curfew
News
3 views
News
3 views

Help End Sit-at-home by Coming Out for Work on Mondays — Anambra CP Advises Shuttle Drivers, As Govt Relaxes 2-Year-Old Curfew

Webby - March 4, 2024

By Izunna Okafor, Awka The Anambra State Commissioner of Police, CP Aderemi Adeoye has called on shuttle bus drivers in…

Bashir Ahmad reacts after Otti announced partnership with Chinese coy to launch rail project
News
2 views
News
2 views

Bashir Ahmad reacts after Otti announced partnership with Chinese coy to launch rail project

Webby - March 4, 2024

Bashir Ahmad, a former advisor to Nigerian President Muhammadu Buhari and a current member of the All Progressives Congress (APC),…

N44b Allegations: Another Lie From Enemies Of Progress To Distract Gov. Alia
News
8 views
News
8 views

N44b Allegations: Another Lie From Enemies Of Progress To Distract Gov. Alia

Webby - March 4, 2024

Press Statement: Reports have emerged from a nocturnal family dinner held at Kilometre 4 by a few APC stakeholders and…

Leave a Comment

Your email address will not be published.