Reps pass N288bn FCT supplementary budget

Reps pass N288bn FCT supplementary budget

Reps pass N288bn FCT supplementary budget
House of representatives

The house of representatives has passed the 2024 supplementary bill of N288 billion for the Federal Capital Territory Administration (FCTA).

The lower legislative chamber passed the supplementary appropriation bill for a third reading on Thursday, after Muktar Betara, chairman of the house committee on FCT, presented a report.

Betara asked his colleagues to approve the budget, saying there are critical projects that need to be completed within a short timeframe.

President Bola Tinubu transmitted the supplementary budget to the national assembly on Tuesday, asking the lawmakers to consider and pass the appropriation bill expeditiously.

The president said the proposal was prepared based on the FCTA’s reviewed revenue and expenditure forecasts, which aligns with the fiscal and developmental policies of the federal government.

“With it, the FCTA continues to prioritise the improvement of human capital and infrastructure within the federal capital territory,” Tinubu said.

A breakdown of the budget shows that N31,100,000,000 is for overhead costs, while N256,900,000,000 is for capital projects.

This is the second FCT supplementary budget passed by parliament.

In March, the national assembly passed N1.2 trillion as the 2024 budget for the FCTA.

In June, the national assembly passed N98.5 billion as supplementary budget for the FCTA.