Senate Jerks-up FCT Statutory Budget By N46bn
The Senate on Monday passed the National Statutory Budget of the Federal Capital Territory (FCT).
Meanwhile, the Senate has however adjourned plenary till January 28, 2020. The Senate thereafter adjourns plenary till January to observe its Christmas holiday.
Explaining the increase, the Senate Committee Chairman on FCT Abubakar Kyari said that funding for security was doubled to enable the security architecture provided the needed security to the legacy capital city.
Kyari said: “it is noteworthy that the current security apparatus cannot guarantee safety and security in the FCT and it’s surrounding towns and villages.”
He also noted that 50 percent releases of the 2019 budget of the Federal Capital Territory reduced capital expenditure performance to 35 per cent, which he noted was dismal. Structure of expenditure for the proposed 2020 FCT budget showed a total Recurrent expenditure of N110,946,584,530 consisting of personnel costs standing at N53,876,241,095 and the overhead costs put at N57,070,343,435bn. According to the FCT appropriation bill passed by the Senate, N121,928,781,417 was allocated for Capital expenditure for 2020 fiscal year.
The amount is about N75.6bn higher representing 260 per cent increase on last year’ capital budget of N46,,292,431,523.09.
The Engineering services has the highest allocation of capital expenditure with the sum of N59.946bn allotted it was followed by N36.540bn for Satellite Towns Development Do (STDD). The administration will be spending N9.410bn on transportation the passed appropriation bill stated.
