Reps Okay N98.5bn Supplementary Budget for FCT

The House of Representatives recently approved a supplementary budget of N98.5 billion for the Federal Capital Territory Administration. This move was in response to President Bola Ahmed Tinubu’s presentation of the supplementary appropriation bill to the National Assembly. The funds are earmarked for critical infrastructure development in the country’s capital city of Abuja.

Committee Review and Approval

Chairman of the House Committee on Federal Capital Territory, Hon. Aliyu Mukthar Betara (APC, Borno), presented the committee’s report to the House for consideration. Betara informed the House that the committee had thoroughly reviewed the President’s presentation and concluded that the allocated funds were necessary for the development of key infrastructure projects in the federal capital.

Breakdown of the Supplementary Appropriation

The provisions of the supplementary appropriation bill outline that the Director of Treasury of the Federal Capital Territory Administration will be authorized to disburse funds from the Statutory Revenue Fund, not exceeding N61,553,778,260.00, for capital projects. These funds will be allocated to specific heads of expenditure as indicated in the bill’s schedule.

Fund Utilization and Oversight

All funds appropriated under the supplementary budget will be utilized for the specific purposes outlined in the bill. Revenues accruing to the Federal Capital Territory Administration will be channeled into the Statutory Revenue Account, with strict oversight by the National Assembly. In cases of revenue shortfalls, the Minister of the Federal Capital Territory can request a waiver from the National Assembly to avoid unauthorized expenditure.

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Ministerial Waiver

In cases where there is a revenue shortfall, and the appropriated funds cannot be fully funded, the Minister of the Federal Capital Territory has the authority to seek a waiver from the National Assembly to avoid incurring unnecessary expenditure.

Unanimous Approval by the House

The submission made by the committee was unanimously adopted by the House at the committee of the whole. This decision reflects the commitment of the House of Representatives to ensure the proper allocation and utilization of funds for the development of critical infrastructure in the Federal Capital Territory.

Conclusion

The approval of the N98.5 billion supplementary budget for the FCT demonstrates the government’s dedication to enhancing the infrastructure and overall development of the nation’s capital. By investing in key projects and infrastructure, the administration aims to create a more sustainable and prosperous environment for residents and visitors alike.