Home News N607bn FCT budget passes second reading at Reps

N607bn FCT budget passes second reading at Reps

by Damilola

The bill seeking for an Act to authorise the issue of N607,952,023,580 from the Federal Capital Territory (FCT) Administration’s Statutory Revenue Fund has scaled second reading at the House of Representatives.

The Deputy Majority leader of the House, Hon. Peter Akpatason who presented the bill said that out of the total amount, the sum of N76,569,904,857.00 is for personnel costs, N138,199,851,110.00 was for overhead costs; while the balance of N393,182,267,614.00 was for capital projects.

The bill was titled “Bill for an Act to Authorize the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N607,952,023,580.00 (Six Hundred and Seven Billion, Nine Hundred and Fifty Two Million, Twenty Three Thousand, Five Hundred and Eighty Naira) only, of which the sum of N76,569,904,857.00 (Seventy Six Billion, Five Hundred and Sixty Nine Million, Nine Hundred and Four Thousand, Eight Hundred and Fifty Seven naira) only, is for Personnel Costs.

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“And the sum of N138,199,851,110.00 (One Hundred and Thirty Eight Billion, One Hundred and Ninety Nine Million, Eight Hundred and Fifty One Thousand, One Hundred and Ten naira) only, is for Overhead Costs; while the balance of N393,182,267,614.00 (Three Hundred and Ninety Three Billion, One Hundred and Eighty Two Million, Two Hundred and Sixty Seven Thousand, Six Hundred and Fourteen naira) only, is for Capital Projects; for the Service of the Federal Capital Territory, Abuja, for the financial year commencing from 1 January and ending on 31 December, 2022”.

In a related development, the members at the Committee of the Whole, considered and adopted the Senate report for a Bill for an Act to Establish Nigeria Hunters and Forest Security Service (NHFSS) to Prevent, Combat Forest Crimes and enhance Security within Nigerian Forests; and for Related Matters.

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