SENATE APPROVES THE 2025 FCT STATUORY APPROPRIATION BILL
Read Time:59 Second
By: Jimoh Paul
The Senate has approved the 2025 FCT Statutory Appropriation Bill, which allocates approximately ₦1.81 trillion for the Federal Capital Territory for the fiscal year 2025, following a third reading.
The presentation of the joint committee report by Sen. Mohammed Ibrahim reviewed inputs from both chambers in alignment with the relevant sections of the 1999 Constitution. The report outlines that the total statutory budget will be financed through projected annual revenues, with personnel costs amounting to ₦150.35 billion, which represents 8.29% of the budget.
The budget breakdown indicates that overhead costs amount to ₦352.03 billion, representing 19.41% of the total budget, while capital expenditure is significantly higher at ₦1.31 trillion, making up 72.31%. The overall recurrent expenditure, which includes both personnel and overhead, totals ₦502.38 billion, with capital projects allocated the largest portion of the budget.
The committees reported that the budget was developed following comprehensive consultations with the Minister of the FCT and key officials from the Federal Capital Territory Administration (FCTA). This financial plan aims to promote infrastructural development, enhance service delivery, and meet the increasing demands of Abuja residents and surrounding areas.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0