House approves the FCT budget of N607.9 billion

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

The approval came after the House Committee on Supply considered and adopted the report of the House Committees on Federal Capital Territory Administration, Federal Capital Territory Area Council, and Ancillary Matters in plenary.

N76.5 billion was set aside for personnel costs, N127.6 billion for overhead costs, and the remaining N403.7 billion was set aside for capital projects.

“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 Authorize 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,” said Committee Chairman Hon. Abdullahi Garba.

“Of which the sum of N76,569,904,857.00 is for personnel costs; and the sum of N127,603,382,310.00 is for overhead costs; and the balance of N403,778,736,413.00 is for capital projects; for the Service of the FCT, Abuja, for the fiscal year beginning January 1, 2002 and ending December 31, 2022.”

“The Director of Treasury of the Federal Capital Territory Administration shall, when authorized by warrants signed by the Minister, FCT Administration, pay out of the FCT Administration Statutory Revenue Fund of the Federal Capital Territory Administration the sum specified by the warrants, not exceeding in total N607,952,023,580.00, during the fiscal year 2022.”

“All appropriations made under this bill shall be made solely from the Federal Capital Territory Administration Statutory Revenue Fund for the purposes specified in the bill’s schedule.”