House of Representatives has approved a supplementary budget of N98.5 billion for the Federal Capital Territory Administration (FCTA) for the 2024 fiscal year.
Gatekeepers News reports that the approval came after the presentation of a report by the House Committee on FCT, chaired by Muktar Betara.
The supplementary budget, which was submitted by President Bola Tinubu, aims to address revenue shortfalls and ensure the development of the nation’s capital.
The committee’s report emphasized the importance of the budget, stating that “all revenues accruing to the FCTA shall be paid into the FCTA’s statutory revenue account” and that “no monies shall be withdrawn from the account without appropriation by the National Assembly.”
The breakdown of the budget includes:
– N48.5 billion for engineering services
– N18 billion for the education secretariat
– N16 billion for public buildings
– N16 billion for the Department of transportation
The approval of the supplementary budget comes after the National Assembly passed the 2024 budget of N1.2 trillion for the FCT in March.
