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2017 FCT Budget passes Second Reading in Senate



The 2017 Federal Capital Territory (FCT) Appropriation Bill of N222,360,551,512 has scaled Second Reading in Senate.

Breakdown of the N222billiion budget shows that N52billion is for Personnel Cost, N41billion for overhead cost while N128billion is earmarked for capital expenditure.

Presenting Lead Debate on the general principles of the bill, Senate Leader Ahmad Lawan said it was for the financial year January 1 to December 31st, 2017. The development comes with less than two months to the end of the year.

The Senate Leader said the appropriation bill would be funded from Internally Generated Revenue (IGR) and one percent from the Federation Account.

He added that from the capital expenditure, N1billion was earmarked for the expansion and rehabilitation of Outer Northern Expressway and Airport Expressway, N13 billion for the provision of infrastructural facilities to districts and road construction in Jahi, Wuye, Maitama Extension, Abuja North West and Katampe Districts, N1 billion for the construction and dualisation of Lower- Usman Dam, Gurara Road and N400 million for provision of access road to Kabusa Garden.

“N1.5 billion Naira is proposed for the construction 2,276 resettlement houses at Galuwyi/Shere Resettlement Site while the sum of N100 million Naira was earmarked for the renovation of the International Conference Centre(ICC),’’ he said.

He pointed out that during the year, a total sum of N113 billion was accrued to the FCT as revenue, indicating a 47 percent level of performance.

The lawmaker urged his colleagues to give the bill expeditious passage.

Senate President Bukola Saraki referred the bill to the Committee on FCT and report back in two weeks.

 

OWEDE AGBAJILEKE, Abuja

The post 2017 FCT Budget passes Second Reading in Senate appeared first on BusinessDay : News you can trust.

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