Reps Pass N329bn Budget for FCT

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De Erudite Communications
June 30, 2021

The House of Representatives has passed a budget of N329,963,491,523.00 for the Federal Capital Territory (FCT).

Chairman, House Committees on Federal Capital Territory and FCT Area Councils and Ancillary Matters, Rep. Abdullahi Garba presented the report of the Committees on Wednesday in Abuja.

The report was on a bill for an Act to authorise the issue from the Federal Capital Territory Administration’s (FCTA) statutory revenue fund of the FCTA Account, to the House for consideration.

The News Agency of Nigeria (NAN) reports that the breakdown indicates that the sum of N74,323,382,813.00 is for Personnel Costs, while the sum of N58,728,614,466.00 is for Overhead Costs.

The balance N196,911,494,243.00 is for Capital Projects for the service of the Federal Capital Territory, Abuja, for the Financial Year Ending 31 December, 2021.
(NAN)