Federal Capital Territory proposes over N271bn for 2018 fiscal year

The Federal Capital Territory Administration, FCTA, has proposed an expenditure framework of N271.532 billion for the 2018 fiscal year before the National Assembly for consideration and approval.

The FCT Minister, Muhammad Bello stated this while presenting the territory’s 2018 appropriation bill to the Senate Committee on FCT in Abuja.

Bello said the figure showed an increase of N49.171 billion on what had been appropriated in 2017 which was at N222.360 billion.

The Minister gave a breakdown of the sectoral allocations which showed priority being given to Capital Expenditure, which got N154.232 billion representing 56.8 percent of the estimate.

Overhead cost came second with N61 billion or 22.5 percent, while Personnel was estimated to cost N56 billion representing 20.68 percent of the total.

He said the increase was based on the expected higher revenue generation by the FCT in view of the take-off of the FCT Internal Revenue Service (IRS) and expected increased funds from the federation account.

Important attention
Bello also said the Administration would pay important attention to the completion of on-going infrastructure projects to make the city more liveable.

“Seventy billion Naira has been earmarked for this purpose.  In the same vein, N4.7 billion will go to on-going critical new infrastructure projects, while N21.1 billion is proposed for ongoing as well as new infrastructure projects in satellite towns,” he said.

The amount of N37.96 billion has been set aside for the Education Sector while the Health Sector received a whopping N22.8 billion.

Water and Agriculture sectors
Other major expenditure areas include Resettlement & Compensation N8.9Billion and Transportation Sector – N20.5Billion.

Out of this amount, the Abuja Light Rail Project would gulp N12.3 billion. Environment, Water and Agriculture sectors together have been allocated approximately N16.3 billion among others.

The Minister who described the Budget as a balanced budget added that it would be funded from the 1 percent of the 52.68 percent Statutory Allocation to the Nigerian government from the Federation Account, Internally Generated Revenue (IGR) and other sources as contained in the Fiscal Framework of government.

The Chairman, Senate Committee on FCT, Senator Dino Melaye expressed his delight at the improvement recorded in the Budget performance for the 2017 Fiscal year which showed a 62 percent level of accomplishment.

Senator Melaye also applauded the Administration for the successful commissioning of the Abuja Rail Mass Transit System, while harping on the necessity for honesty, prudence and transparency in the management of government resources.

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