President Bola Tinubu has approved the Federal Capital Territory’s over N1.1trn statutory budget for the 2024 fiscal year.
The FCT minister, Nyesom Wike, disclosed this during an ongoing media chat at his office in Abuja on Tuesday.
He expressed delight over the assent by the president, and explained that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools in the FCT, amongst others.
The development comes on the heels of the FCT appropriation bill passing the second reading at the Senate last month.
A breakdown analysis of the N1.1trn budget, indicated that N280bn was earmarked for overhead, N726bn for capital projects, and N140bn for personnel, bringing the total budget to N1.147tn.
Leading the debate, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the appropriation bill took into cognisance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.