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HomeLatestPresident Tinubu Approves N1.1 Trillion Statutory Budget for FCT

President Tinubu Approves N1.1 Trillion Statutory Budget for FCT

 

President Bola Tinubu has greenlit the Federal Capital Territory’s statutory budget surpassing N1.1 trillion for the 2024 fiscal year. This confirmation came during a media briefing at his Abuja office on Tuesday, as revealed by the FCT minister, Nyesom Wike.

Breaking down the budget, it allocates N280 billion for overhead expenses, N726 billion for capital projects, and N140 billion for personnel costs, resulting in a total budget of N1.147 trillion.

In his remarks, Minister Nyesom Wike emphasized the significance of the budget allocation in advancing the development agenda of the Federal Capital Territory. He highlighted the strategic distribution of funds across various sectors, particularly focusing on infrastructure and human resources.

“This budget reflects our commitment to prioritizing critical sectors such as infrastructure development and human capital investment,” stated Minister Wike. “With President Tinubu’s approval, we are poised to accelerate progress and address the evolving needs of the FCT residents.”

The approved budget is expected to facilitate the implementation of key projects aimed at enhancing the living standards and socio-economic landscape of the Federal Capital Territory. It underscores the government’s dedication to infrastructure development, urban renewal, and the provision of essential services to residents.

Minister Wike assured stakeholders of the government’s accountability and transparency in budget implementation, emphasizing prudent management of resources to achieve optimal results.

As the FCT prepares to embark on various capital projects and initiatives outlined in the approved budget, stakeholders are optimistic about the positive impact it will

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