The Nigerian Senate on Thursday approved a supplementary budget of N288 billion for the Federal Capital Territory Administration (FCTA) for the 2024 fiscal year.
The approval followed the adoption of the harmonized report from the Joint Committees on FCTA and FCT Area Councils, presented by the Joint Committee Chairman, Mohammed Bomai (APC-Yobe).
In his presentation, Senator Bomai noted that the Committee thoroughly examined the proposed supplementary budget’s revenue sources.
He highlighted that the proposed additional revenue is about 89.21%, while overhead costs under the Supplementary budget expenditure will account for 10%.
Bomai urged the Senate to adopt the Committee’s recommendations for the 2024 FCT Supplementary Appropriation Bill.
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The Senate then moved into a Committee of Supply for a clause-by-clause review of the Bill, and approving the Supplementary budget.
Deputy President of the Senate, Barau Jibrin (APC-Kano), who presided over the session, praised the Joint Committee for its swift Bill processing.
He also commended the FCT Minister, Nyesom Wike for his significant efforts in boosting internal revenue generation and infrastructure development in the FCT.
He encouraged other government appointees to follow Wike’s example in enhancing revenue generation for the development of both the FCT and the nation at large.
(Editor: Ken Eseni)
