Thursday, July 29, 2021

    Reps pass N329bn budget for FCT

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Femi Ogunshola
    Abuja, June 30, 2021 The House of Representatives has passed a budget of N329,963,491,523.00 for the Federal Capital Territory (FCT).
    Rep. Abdullahi Garba, Chairman, House Committees on Federal Capital Territory and FCT Area Councils and Ancillary Matters, presented the report of the Committees on Wednesday in Abuja.
    The report was on 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.
    Naija247news reports that the breakdown indicates that the sum of N74,323,382,813.00 is for Personnel Costs, while the sum of N58,728,614,466.00 is for Overhead Costs.
    The balance N196,911,494,243.00 is for Capital Projects for the service of the Federal Capital Territory, Abuja, for the Financial Year Ending 31 December, 2021.

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