SPOTLIGHTS

  • The supplementary budget is specifically for capital expenditure in the FCT
  • The FCDA, Education Secretariat, Public Building, and Department of Transportation received the allocated funds
  • The budget is funded by the FCT Administration’s Statutory Revenue Fund, with strict withdrawal protocols in place
  • A waiver from the National Assembly is required if revenue shortfalls prevent allocated funds from being disbursed

From Ndubuisi Orji, Abuja

The House of Representatives has passed a ₦98,500,000,000 supplementary budget for the Federal Capital Territory (FCT) for the 2024 fiscal year.

The Supplementary Appropriation Bill, designated for capital expenditure, was passed for third reading after the House Committee on FCT, led by Muktar Betera, presented its report. The Committee on Supply then considered and approved the report.

The Engineering Services Department of the Federal Capital Development Authority (FCDA) is allocated ₦48,500,000,000. The Education Secretariat, Public Building, and Department of Transportation are to receive ₦18,000,000,000, ₦16,000,000,000, and ₦16,000,000,000, respectively.

The report specifies that the supplementary budget will be funded solely from the FCT Administration Statutory Revenue Fund. It mandates that all FCT Administration revenue, including statutory revenue distributions, be deposited into the FCT Administration’s Statutory Revenue Account. Withdrawals from this account require National Assembly appropriation.

The report further stipulates that in the event of revenue shortfalls hindering the funding of appropriated amounts, the Minister of the Federal Capital Territory must seek a waiver from the National Assembly to withhold such expenditure.


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