FCT Proposes N300 billion For The 2021 Budget

On Tuesday, the official of the Federal Capital Territory Administration (FCTA) presented a budget of N299.9 billion for the 2021 fiscal year to the Senate Committee on FCT for consideration.

The FCT minister, Muhammed Bello, who led the delegation from the FCTA, made the presentation informing the panel that the total proposal, N215.9 billion, would be classified as “distributable revenue” while N84 billion would be the non-distributable revenue.

He also said 54.6 per cent of the entire budget is proposed for capital expenditure while the other 45.4 percent which comprises personnel and overhead costs, is for recurrent expenditure. The current proposal when compared to the agency’s 2020 budget has an increase of N101 billion translating to 34 per cent.

The chairman of the Committee, Abubakar Kyari (APC, Borno North), said besides the 2021 budget proposal, “both parties are to deliberate the performance of the 2020 budget – to sustain the federal government’s policy of running the annual budget from January to December”.

While he pledged that the committee will  out oversight to foster quality service delivery to residents of FCT, the lawmaker said full implementation of the budget will be ensured “through these oversights from time to time”.

The committee will deliberate upon the proposal presented by the FCTA and present its report to the Senate for consideration and possible approval.


Source link

About Admin

Check Also

BREAKING: Gunmen Kidnap Ex-Kogi Lawmaker, Prince, Others In Abuja

Some gunmen have kidnapped a prince of Igalaland, a former member of the Kogi State House …

Leave a Reply

Your email address will not be published.