The Senate on Wednesday, September 25, passed for second reading a N288bn Supplementary budget for the Federal Capital Territory Administration (FCTA).
This fresh supplementary budget comes after the Senate passed the sum of N98.5bn Supplementary budget for the FCT in June.
The Senate Leader, Opeyemi Bamidele in his lead debate said the Supplementary appropriation became necessary to accommodate additional inflows from Internally Generated Revenues and other revenues of the FCTA.
Bamidele said: “A Bill for an Act to issue from the Federal Capital Territory Administration Account the total sum of N288bn only arising from a need to accommodate additional inflows from Internally Generated Revenues (IGR) and other revenues in the sums of N8bn only and N280bn only respectively; and for other related matters, 2024.”
The passage of the budget followed a correspondence from President Bola Tinubu dated September 19, 2024, addressed to the National Assembly.
Tinubu said the supplementary budget for the FCTA was pursuant to the provision of the 1999 Constitution (as amended).
The letter reads in part: “I write in accordance with the provisions of Section 121 of the Constitution of the Federal Republic of Nigeria, to forward herewith an additional supplementary budget proposal for the FCTA for consideration and passage by the Senate.
“This supplementary budget proposal has been prepared on the basis of the FCTA’S reviewed revenue and expenditure forecasts and is aligned with the fiscal and developmental policies of the Federal Government and the Renewed Hope Agenda.
“With it, the FCTA continues to prioritise the improvement of human capital and infrastructure within the Federal Capital Territory.
This fresh supplementary budget comes after the Senate passed the sum of N98.5bn Supplementary budget for the FCT in June.
After the Bill was read for a second time, Deputy Senate President, Barau Jibrin, who presided over plenary referred to the Senate Committee on FCT for further legislative work.