By Stanley Onyekwere
The House of Representatives yesterday received the proposed sum of ₦299,963,491,522.46 billion budget estimates for 2021 fiscal year from the Federal Capital Territory Administration (FCTA).
The FCT Minister, Malam Muhammad Musa Bello, who presented the statutory estimates to House Committee on FCT, classified N215.9 billion out of the total figure as distributable revenue, while the balance of N84 billion was regarded as non-distributable revenue.
Bello, represented by the Permanent Secretary, FCT Administration, Adesola Olusola stated that the 2021 budget estimates represented an increase of over N100 billion from last year’s revised statutory appropriation for the FCT.
He added that the projected increment was due to increased revenue drive and expected revenue from the now functional FCT-IRS, introduction of remita platforms, engagement of revenue collection consultants, as well as the launch of Accelerated Area Council and Sectional Title Re-Issuance Scheme (AACTRIS).
He also disclosed that about N163b, representing 54.6 per cent of the estimates was proposed for capital expenditure, while the balance of 45.4 percent, comprising personnel and overhead costs was earmarked for recurrent expenditure.
According to him, when compared with the 2020 budget, there is an increase of N101 billion representing 34 per cent.
Chairman, House Committee on FCT, Hon. Abdullahi Garba (APC Niger), who received the budget estimates on behalf of the green chamber, however adjourned sitting for a future date.
Recall that, a week ago, the FCT Minister presented the same budget estimates to the Senate Committee on the FCT, which stressed the need to increase the estimates due to the enormity of work in the nation’s Capital.