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Breaking News: Reps Approve N98.5bn Supplementary Budget for FCT

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The House of Representatives has passed a supplementary budget of N98.5 billion for the Federal Capital Territory (FCT) Administration, aimed at addressing critical infrastructure needs in the nation’s capital.

President Bola Ahmed Tinubu had earlier presented the supplementary appropriation bill to the National Assembly, emphasizing the need for additional funding to develop key infrastructure projects in the FCT.

The House Committee on Federal Capital Territory, chaired by Hon. Aliyu Mukthar Betara, reviewed the proposal and recommended its approval. The committee’s report was unanimously adopted by the House, paving the way for the release of funds from the FCT Administration’s Statutory Revenue Fund.

Key highlights of the supplementary budget include:

  • N61,553,778,260 allocated for capital projects
  • Funds to be released from the FCT Administration’s Statutory Revenue Fund
  • Strict appropriation and withdrawal protocols to ensure transparency and accountability
  • Waiver granted to the Minister of Federal Capital Territory to seek approval from the National Assembly in case of revenue shortfalls

The passage of the supplementary budget for FCT demonstrates the government’s commitment to prioritizing critical infrastructure development in the nation’s capital.

This Article is Fact-Checked. See Policy.

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