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President Tinubu approves FCT budget exceeding N1.1 trillion for fiscal year 2024.
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FCT minister, Nyesom Wike, announces the approval, highlighting its impact on infrastructure, healthcare, and education.
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The budget breakdown includes allocations for overhead expenses, capital projects, and personnel, totaling N1.147 trillion.
EKO HOT BLOG reports that President Bola Ahmed Tinubu has officially approved the statutory budget exceeding N1.1 trillion for the Federal Capital Territory (FCT) for the fiscal year 2024.
The announcement was made by the FCT minister, Nyesom Wike, during a media briefing held at his office in Abuja on Tuesday.
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Expressing his contentment with the president’s endorsement, Wike emphasized the significant impact the budget will have on infrastructure development, healthcare facilities, and the renovation of schools in the FCT, among other critical sectors.
This online media platform reports that this development follows the successful passing of the FCT appropriation bill in the Senate last month.
A detailed breakdown of the N1.1trn budget reveals that N280 billion has been allocated for overhead expenses, N726bn for capital projects, and N140bn for personnel, resulting in a total budget of N1.147tn.
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Earlier at the Senate, the bill’s sponsor and Senate Leader, Opeyemi Bamidele, took charge of the discussion by emphasizing that the appropriation bill carefully considered the FCT administration’s revenue and expenditure forecasts, which align with the federal government’s fiscal and developmental policies.
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