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Published On: Thu, Dec 10th, 2020

Reps approve N199.240bn 2020 FCT budget

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By Christiana Ekpa

The House of Representatives on Tuesday approved N1999.240 billion 2020 budget for the Federal Capital Territory Administration in it’s committee of Supply.
The approval followed the presentation and consideration of the money Bill at the Committee of the Whole, and its subsequent passage at the committee of Supply
The Chairman of the House Committee on FCT, Rep. Abdullahi Garba while presenting the budget for consideration by his colleague said: “That the House do consider the report of the Committee on the Federal Capital Territory on a bill for an Act to Authorise the issue from the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N199.240, 53, 350 (One Hundred and Ninety-Nine Billion, Two Hundred and Forty Million, Five Hundred.and Thirty-One Thousand, Three Hundred and Fifty Naira.
“Of this sum N 63,620,646,865.00 (Sixty Three Billion, Six Hundred and Twenty Million, Six Hundred and F orty-Six Thousand, Eight Hundred and Sixty-Five Naira) only, is for Personnel Costs;
“The sum of N 55,393,961,085.00 (Fifty-Five Billion, Three Hundred and N inety-Three Million, Nine Hundred and SixtyOne Thousand, Eighty-Five Naira) only, is for Overhead Costs;
“While the balance of N 80,225,923,400.00 (Eighty Billion, Two Hundred and Twenty-Five Million, Nine Hundred and Twenty-Three Thousand, Four Hundred Naira) only, is for Capital Projects for the service of the Federal Capital Territory, Abuja,”
He said that, the budget is for the financial year commencing 1 January and ending when the 2021 FCT Statutory Appropriation Act comes into effect.
The House in conclusion said it is “enacted by the National Assembly of the Federal Republic of Nigeria as follows: Issue a Bill of N199, 240, 531 ,350 from Federal Capital Territory Administration Statutory Revenue Fund.
“The Director of Treasury of the Federal Capital Territory Admiriistration shall, when authorized to do so by warrants signed by the Minister Federal Capital Territory Administration with responsibility to pay out of the Federal Capital Territory Administration Statutory Revenue Fund of the Federal Capital Territory Administration during the financial year 2020 the sum specified by the warrants, not exceeding in the aggregate N199,240,531,350 “

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