The Nigerian Senate has approved a sum of N199.2 billion (199,240,531,350) for the Federal Capital Territory Administration as budget for 2021 Fiscal Year.
This is against the N126.44bn (N126,443,423) proposed by President Muhammadu Buhari.
The approval followed the consideration of a Bill for an Act to authorise the issue from the Account of the FCTA Consolidated Revenue Fund presented by the Chairman Senate Committee on FCT, Senator Abubakar Kyari.
Moving the motion, Senator Kyari said out of the total budget, N63.6 billion was appropriated for personnel costs; N55.4 billion is proposed to fund the overhead component of the COVID-19 intervention efforts while the balance of N80.2 billion was budgeted for capital expenditure.
The capital expenditure was also restructured to prioritize capital expenditure relating to the COVID-19 pandemic.
Source. AIT News