Connect with us

LATEST NEWS

Senate approves N243.4bn FCT budget

Published

on

2020 Budget

Senate approves N243.4bn FCT budget

style="display:block" data-ad-client="ca-pub-6453186114941971" data-ad-slot="4434763528" data-ad-format="auto" data-full-width-responsive="true">

FCT Budget – The Senate, on Tuesday, approved a sum of N243.4 billion for the Federal Capital Territory Administration (FCTA) budget for 2019 Fiscal Year.

The approval followed the consideration of a Bill for an Act to authorise the issue from the Account of the FCTA Consolidated Revenue Fund presented by Senate Leader Ahmed Lawan in Abuja.

Moving the motion, Lawan said out of the total budget, N55.3 billion was appropriated for personnel costs; N57.6 billion for overhead cost while the balance of N130.7 billion was budgeted for capital projects.

According to him, the budget is for the service of the FCT for the financial year commencing from Jan. 1 and ending Dec. 31.

The lawmaker noted that the overall performance of the FCT 2018 statutory allocation was 61 per cent, adding that “most of the projects executed by the FCTA/FCDA were still ongoing due to overbearing ineptitude of getting Due Process Certificates on time.”

He said the committee further observed that new and ongoing projects were not sufficiently funded due to delay in the release of funds, occasioned by bureaucratic bottlenecks.

When the Senate President, Dr. Bukola Saraki, who presided over the plenary put the motion on a voice vote, the lawmakers unanimously adopted it.

The bill, which was given accelerated hearing by the Senate, eventually passed second and third readings.

(NAN)

(Visited 1 times, 1 visits today)

Comments

0 comments

Facebook

Advertisement

Entertainment News

Advertisement

Most Read

Advertisement

Recent Posts

Advertisement
Advertisement

Copyright © 2016 - 2019 Premium News24

close
%d bloggers like this: