fbpx
[ MAIN ]BUSINESS & ECONOMYNEWS

Senate Approves N271.5bn, N322.6bn FCT, NDDC 2014 Budgets

The Senate on Tuesday, approved N271.1 budget for the Federal Capital Territory (FCT) as well as N322.6 billion for the Niger Delta Development Commission (NDDC) for the year 2014.

The FCT budget consists of N161.8 billion as capital expenditure, N109.2 billion as recurrent expenditure, N60.037 billion as overhead cost and N49.2 billion as personnel cost.

While presenting the report of the FCT committee to the Senate ahead of the passage, the Vice-Chairman of the committee, Senator Domingo Obende, said the sum of N16 billion was earmarked for the development of the health sector, including the provision of free antenatal treatment and ante retro-viral drugs for HIV/AIDS patients.

He also said another N6 billion had been allocated for administration of security in the FCT.
SOURCE

About Author

BWN
This is BizWatchNigeria. Nigeria's first online business Newspaper.

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.