Tinubu Approves FCT's N1.1 Trillion 2024 Statutory Budget

President Bola Tinubu

THE Federal Capital Territory's N1.1 trillion statutory budget for the 2024 fiscal year has been approved by President Bola Tinubu.

Nyesom Wike, the minister for the Federal Capital Territory (FCT), announced this on Tuesday, April 2, in Abuja.

Wike expressed his happiness at the president's assent and clarified that the budget will have an effect on the Federal Capital Territory's school restoration program in addition to healthcare facilities and infrastructure development.

This comes after the FCT appropriations measure was approved by the Senate in March on its second reading.

N280 billion was set aside for overhead, N726 billion for capital projects, and N140 billion for personnel, according to a breakdown analysis of the N1.1 trillion budget, making the total budget of N1.147 trillion.

Opeyemi Bamidele, the Senate Leader and bill sponsor, led the debate by stating that the appropriations measure considered the revenue and expenditure predictions of the FCT administration, which align with the federal government's budgetary and developmental plans.

It also took the 2024–2026 Economic Recovery Growth into mind.

Godswill Akpabio, the Senate President, stated during the meeting that the bill, which was submitted earlier than usual, will be swiftly reviewed and approved in order to motivate the FCT Minister to move forward with changes.