Share this:

Like this:

Like Loading...
" />
Published On: Mon, Dec 23rd, 2019

Reps approve N278.355b FCT statutory budget

Share This
Tags

By Christiana Ekpa

The House of Representatives has passed into law the N278.35 billion Federal Capital Territory (FCT) Statutory budget and 2020 Appropriation Bill.
The budget recorded N45.480 billion increase as the House jerked the N232.875 billion proposal sent by President Muhammadu Buhari to the current N278.355 billion.
The Green Chamber passed the budget after consideration of the Report of the Committees on
Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters 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 N278,355,365,947.00 only for the Service of the Federal Capital Territory, Abuja for the year ending on 31 December, 2020 by the Committee of Supply.
Out of the total budget, the sum of N55,878,241,095.00 only, is appropriated for Personnel Costs; and the sum of N62,343,723,435.00 only, is for Overhead Costs while the balance of N160,133,401,417.00 only, is for Capital Projects.
According to the report, the Director of Treasury, FCT Administration shall, when authorised to do so by warrants signed by the Minister of FCT with the responsibility to pay statutory revenue fund of FCTA during the financial year 2020 the sum specified by the warrants, not exceeding in the aggregate N278 billion.
The report said that all the amounts appropriated under this Bill shall be made from the FCTA statutory revenue fund only for the purposes specified in the schedule to this Bill.
Also at the sitting, the House approved N238.149 billion budget for the Nigerian Customs Service for the 2020 financial year.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

%d bloggers like this: