The N1.1tn Federal Capital Territory Appropriation Bill, 2024 has scaled the second reading at the Senate.
A breakdown of the N1.1tn showed that N280bn was booked for overhead, N726bn for capital projects, and N140bn for what was termed “personnel”, bringing the total budget to N1.147tn.
Leading the debate on Thursday, the sponsor of the bill and Senate leader, Opeyemi Bamidele, noted that the appropriation bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.
It also contemplates the consideration of the 2024-2026 Economic Recovery Growth.
During the debate, President of the Senate, Godswill Akpabio, assured that the bill presented earlier than usual will be expeditiously considered and passed to encourage the minister of the FCT to advance reforms in the nation’s capital.
The bill has been referred to the committee on the FCT to report back on the next legislative session.