House of Representatives on Tuesday passed the 2024 Federal Capital Territory (FCT) budget of N1.28 trillion, jerking it up by N134.49 billion more than the initial submission of the FCT minister, Nyesom Wike.
Wike had on Monday defended the N1.15 trillion 2024 proposed FCT Statutory Budget before the Senate and House committees on FCT but the total sum of N1.28 trillion was passed by the green chamber.
Of the total amount, N140.91 billion is for personnel costs; and the sum of N373.02 billion is for overhead costs while the balance of N768.32 billion is for capital projects.
The passage of the budget followed the consideration and approval of the reports of House Committees on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters laid by Hon. Muktar Aliyu Betera (APC, Borno).
Betera, who is the chairman of House Committee on FCT while laying the report, asked the House to consider the Bill for an Act to authorise the issue from the Federal Capital Territory Administration‘s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N1,282,270,610,283.00.
After consideration and approval by the Committee of Supply chaired by Tajudeen, the bill was slated for third reading and passed accordingly.
Also at plenary, the House approved the N446.342 billion budget of the Federal Inland Revenue Service FIRS for the 2024 financial year.
That was sequel to the consideration and approval of the report of the committee on finance chaired by Hon. James Faleke (APC, Lagos) at the committee of supply.
Out of the total sum, N177.44 billion is for personnel cost, while the sum of N156.45 billion is for overhead cost and the sum of N112. 44 billion is for capital cost for the year ending 31st December, 2024.
