The House of Representatives has approved N199.2 billion as 2020 statutory budget for the Federal Capital Territory Administration (FCTA).
The budget was passed on Wednesday sequel to the consideration of the report presented by the House Committee on FCT at the plenary presided over by the Speaker of Rep. Femi Gbajabiamila, in Abuja.
According to the Chairman of the committee, Mr Abdullahi Garba, while presenting the report, the budget covers the expenditure for January 1 and ending when the 2021 FCT Statutory Appropriation Act comes into effect.
Lawmakers had earlier on Tuesday completed the clause-by-clause consideration of the report on the budget and approved it before it was read the third time on Wednesday.
Mr Garba explained that the sum of N63.6 billion was passed for personnel costs; N55.3 billion for overhead costs; and N80.2 billion for capital projects.
“The House do consider the report of the committee on the Federal Capital Territory on a bill for an act to authorise the issue from the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N199.2 billion.
“Of this, the sum of N63.6 billion is for personnel costs. The sum of N55.3 billion is for overhead costs, while the balance of N80.2 billion is for capital projects for the service of the Federal Capital Territory, Abuja.
“The Director of Treasury of the FCTA shall when authorised to do so by warrants signed by the Minister Federal Capital Territory Administration with the responsibility to pay out of the FCTA Statutory Revenue Fund of the FCTA during the financial year 2020 the sum specified by the warrants, not exceeding in the aggregate N199.2 billion,” the House of Representatives stated.