- Highlights Urgent Capital Projects
By kawaekwune Jeffrey
The House of Representatives Committee on the Federal Capital Territory (FCT) on Wednesday, adopted a bill seeking approval for a N288 billion supplementary budget for the FCT Administration (FCTA).
This approval comes after President Bola Tinubu communicated the necessity for the supplementary budget, attributing the additional funds to internally generated revenue (IGR) and miscellaneous revenues amounting to N8 billion and N280 billion, respectively.
The supplementary budget is aimed at addressing critical developmental projects across the capital city.
Speaking at the budget defense meeting, Chairman of the House Committee on FCT, Hon. Aliyu Muktar Betara, emphasized the need for swift passage of the appropriation bill, stressing the urgency for some of the projects to begin by the following week.
Betara stated: “We have been mandated to lay the report on the supplementary budget by Thursday because there are critical projects that need to commence due to the timeframe.”
It would be recalled that the FCT Minister, Wike during consultations confirmed that many of the projects included in the supplementary budget were captured in the 2024 statutory budget passed by the National Assembly.
In his letter to the Speaker of the House, Tajudeen Abbas, President Tinubu noted: “Indeed, residents of the Federal Capital Territory are in high spirits and elated with the magnitude and scope of ongoing projects simultaneously within the City Centre and across the six Area Councils of the Territory.
“The socio-economic impact is gratifying, and it’s indeed a testament that Mr. President’s Renewed Hope Agenda is a promise made and a promise being fulfilled in quick succession.”
Tinubu also pointed out that delivering on the key FCT projects is critical to realizing the objectives of the Performance Bond signed by the FCT Minister with him.
“The capital projects are essential components of the FCT 2024 Statutory Appropriation. However, to meet the key deliverables, particularly those inadvertently omitted in the 2024 Statutory Appropriation Act, it is imperative to act promptly and meet the 30% requirement of the Procurement Act,” Tinubu explained.
