By Christiana Ekpa
Senate yesterday approved the Federal Capital Territory (FCT) 2017 Appropriation Bill of N222 billion
The bill scaled third reading and was passed following presentation of report on the bill by the Chairman Senate Committee on FCT, Sen. Dino Melaye.
Presenting the report Melaye said it was for the financial year Jan 1 to Dec. 31.
According to him, of the N222 billion N164 billion was earmarked for Capital Expenditure
He added that the sum of N53 billion was earmarked for Personnel Cost while the sum of N40 billion was earmarked for Overhead Cost.
While appraising the 2016 Budget, Lawan said the FCT received the sum of N241billion, out of which N53 billion was allocated to Personnel Cost.
He added that the sum of N34 billion was allocated to Overhead Cost, while the balance N154 billion was dedicated to Capital Expenditure.
He further said during the year, a total sum of N113 billion accrued to the FCT as revenue, indicating a 47 per cent level of performance.
“The breakdown shows that the sum of 45bn was used for personnel cost representing 95 per cent, while the sum of 12billion was expended on overhead cost, representing 33 per cent.
“The sum of 56 billion was expended on capital budget representing 37 per cent,’’ he said.
The leader of the senate said considering dwindling funding from the statutory revenue allocation, emphasis had been placed on completion of ongoing projects, particularly those with high impact on provision of services and infrastructure.
He urged the lawmakers to give the bill an expeditious passage.
In his remarks, the President of the Senate put the bill to a voice vote and thereafter referred it to the Senate Committee on FCT to be returned to plenary in two weeks.