JUST IN: Senate Approves N1.282trn FCT 2024 Budget

JUST IN: Senate Approves N1.282trn FCT 2024 Budget

The Senate approved a budget totaling N1.282,270,710,283.00 for the Federal Capital Territory (FCT) for the 2024 fiscal year on Tuesday, March 19.

This decision came after reviewing and accepting the recommendations outlined in the combined report of the Senate and House of Representatives Committees on FCT regarding the 2024 FCT statutory Appropriation Bill during the plenary session.

Senator Ibrahim Bomoi, the chairman of the Senate Committee on FCT, presented the report to the Senate.

Out of the total budget, N140,915,003,856.00 has been allocated for personnel costs, while N373,027,373,668.00 is designated for overhead expenses.

The remaining amount of N768,328,232,759.00 has been allocated for capital projects within the FCT for the financial year spanning from January 1 to December 31, 2024.

This budget allocation aims to address various developmental needs and priorities within the Federal Capital Territory during the specified fiscal year.