FCT Minister Pleads for Approval of N17bn Budget Allocation in Front of Joint Parliamentary Committee

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has implored the National Assembly to endorse the N17 billion allocated for the FCT Administration in the 2024 budget. Appearing before the joint Senate and House of Representatives Committees on FCT in Abuja, Wike elucidated that the allocated N17.1 billion is designated to conclude abandoned projects and sustain the progression of critical initiatives.

Wike further broke down the budget allocation, specifying that N5 billion is earmarked as counterpart funding for the Greater Abuja Water Supply project, and N4.5 billion is allocated for the design and construction of the Nigeria Cultural Centre and Millennium Tower. Additionally, N3 billion is allotted for the rehabilitation of the federal secretariat, while N4 billion is designated for the completion of the Vice President’s residence. Furthermore, N609.7 million is set aside for the settlement of residential and office accommodation for international organizations in the FCT.

During his presentation, Wike emphasized the modest sum of N17.1 billion, urging the lawmakers to expedite its approval. He highlighted the ongoing nature of various projects and their importance to the FCT’s development.

Discussing the performance of the 2023 budget, Wike revealed that N15.5 billion was allocated for infrastructural development, but only N8 billion was released, constituting 52 per cent of the budget.

In response, Mr. Ibrahim Bomai, Chairman of the Senate Committee on the FCT, acknowledged the ongoing projects but expressed concerns about the adequacy of funds to complete them. He clarified the dual budget system the FCT operates, encompassing the national budget and the statutory budget. Despite the challenges posed by the meager amount, Bomai appealed to committee members for a smooth approval process.

As Wike made his case before the joint parliamentary committee, the plea for budgetary support and approval echoed the significance of securing financial backing for pivotal projects critical to the growth and development of the Federal Capital Territory.

Source: Daily Trust