Senate approves 2024 FCT supplementary budget of N288bn

The Senate on Thursday at plenary passed the Federal Capital Territory Administration (FCTA) 2024 Supplementary Appropriation Bill of N288 billion.

This followed the adoption of the harmonised report of the Joint Committees on the FCTA and FCT Area Councils.

The report was presented by the Joint Committee Chairman, Sen.Mohammed Bomai (APC-Yobe).

The News Agency of Nigeria (NAN)reports that the FCT Supplementary Budget proposal, which was presented on Monday during plenary, had a total of N288 billion as revenue proposed and N288 billon as expenditure.

Bomai, while presenting the report of the committee said the committee critically examined the sources of the revenue of the proposed supplementary budget.

According to him,the committee also critically examined the proposed expenditures, which includes overhead and capital and agreed with the proposed amendment.

Bomai said the capital component of the proposed supplementary revenue amounts to 89.21 per cent , while that of the overhead was only 10 per cent.

He urged the senate to consider and pass the recommendations of the committee on the 2024 FCT supplementary appropriation bill.

Senate referred it to committee of supply to do clause by clause consideration of the FCT supplementary appropriation bill, and thereafter approved the supplementary budget.

The Deputy President of the Senate,Sen.Barau Jibrin (APC-Kano),who presidedthe Thursday’s plenary after the approval, commended the joint committee for expeditious processing of the bill.

He also commended the FCT Minister Mr.Nyesom Wike for his frantic efforts at internal revenue generation and infrastructure development in the FCT.

He urged other appointees of government to emulate the efforts of the FCT minister on revenue generation for development of the FCT and the nation in general.(NAN)