The Senate yesterday passed the Federal Capital Territory (FCT) 2012 budget totaling N 306,414,159,188 bn.
The budget had scaled second reading on March 20 and was forwarded to the senate committees on Federal Capital Territory (FCT) and appropriation for further legislative work, with a mandate to turn in their report within one week.
However, the capital budget was increased from N219 billion presented by the FCT to N228 billion as appropriated by the committees. While the over head cost was reduced from N44 billion to N35 billion, the personnel cost remained at N42 billion.
Giving a breakdown of the budget, the chairman of the joint committee, Senator Smart Adeyemi said although there was a surplus of N90 million in the budget, the internally generated revenue profile of the FCT was poor.
Speaking after the passage of the budget, president of the senate, David Mark emphasised the timely and effective implementation of the budget, adding that the budget had been expeditiously passed to ensure performance.
He said beautiful budgets had been presented in the past without commensurate results and stressed that complete oversight functions by the FCT committee would be helpful in yielding desired results.
Senate President Mark further charged the Senator Smart Adeyemi led FCT committee that it would be helpful if the upper chamber gets a first quarter report of the FCT budget performance report as soon as possible.
Recall that the House of Representatives had on Tuesday passed the FCT budget during their plenary session.