Senate Passes N241billion FCT 2016 Budget

The Senate on Wednesday, July 20, passed the N241 billion budget of the Federal Capital Territory, FCT, for 2016, following a presentation of report of the Committee on FCT by the Chairman, Sen. Dino Melaye.

Melaye said that from the amount, the sum of N52.9 billion was for personnel cost, N34.4 billion as overhead costs, while balance of N154.1billion was for capital expenditure.

He said that 80 per cent of the capital expenditure figure was for the completion of abandoned projects. He stated that while the territory’s 2015 budget had only 61 per cent budget performance, the committee had projected a minimum of 85 per cent to 90 per cent budget performance in 2016.

In his remarks, the President of the Senate, Dr Bukola Saraki, called for adequate implementation of the budget. He urged the executive to ensure that monies for various projects were adequately released and utilised.

Some parts of the breakdown of the capital component of the budget showed that Federal Capital Development Agency (FCDA) Engineering Services got N70.5 billion. The Satellite Towns Development Agency (STDA) got N21.7 billion, while FCT Administration received N2.7 billion.