Senate has passed the 2025 Federal Capital Territory (FCT) budget proposal totaling ₦1.78 trillion.
The approval followed a letter from President Bola Ahmed Tinubu to the President of the Senate, Godswill Akpabio.
While reading the letter during plenary, Senate President Akpabio noted that President Tinubu explained the FCT 2025 budget prioritizes investment in healthcare services, job creation, youth empowerment, social welfare, education, infrastructure, and agricultural productivity.
The budget estimate for the nation’s capital, as contained in the presidential communication, stands at ₦1.78 trillion.
According to President Tinubu, the objective of the budget is to lift as many citizens as possible out of poverty by the year 2025.
In the letter, President Tinubu informed the Senate that based on the revenue expenditure of ₦1.783 trillion, 85 percent of the capital expenditure is dedicated to the completion of ongoing capital projects in the city.
Meanwhile, the letter explained that 15 percent of the budget is allocated to new and ongoing projects, aimed at sustaining efforts to provide essential social amenities to residents of the Federal Capital Territory.
Shortly after the proposed estimate was presented by the Senate Leader, Senator Michael Opeyemi Bamidele (Ekiti Central), and passed through the first and second readings, the Senate approved the issuance of a total sum of ₦1.783 trillion from the Federal Capital Territory Administration’s Statutory Revenue Fund.
Out of this amount, ₦150.353 billion is allocated for personnel costs, and ₦343.7 billion is earmarked for overhead costs.
Meanwhile, the balance of ₦1.289 trillion is designated for capital projects, for the service of the Federal Capital Territory, Abuja, for the financial year commencing on January 1 and ending on December 31, 2025.
Cov. / Bashir M
