Senate has passed the ₦1.8 trillion statutory budget of the Federal Capital Territory (FCT) for the 2025 fiscal year on Wednesday.
The budget was approved shortly after the Chairman of the Senate Committee on the FCT, Senator Ibrahim Bomai, presented the harmonized report during plenary.
While presenting the report, Senator Bomai explained that the breakdown of the budget includes a capital component of ₦1.3 trillion, ₦352.2 billion for overhead costs, and ₦150 billion allocated for personnel costs.
The Senate, sitting as the Committee of Supply, approved the recommendations of the committee by granting the FCT Minister the authority to spend the sums outlined in the ₦1.814 trillion budget estimate from the Consolidated Revenue Fund.
Contributing to the budget discussion, the Chief Whip, Senator Muhammad Tahir Monguno, supported the submission and expressed satisfaction with the budget’s structure, noting that 70 percent of the expenditure is tailored toward capital projects unlike what is often seen in many other budgetary provisions.
However, Senator Monguno suggested that all tiers of Government especially the federal Government should emulate what the FCT did by spending 70 percent of the expenditure to Capital projects in Nigeria.
He also advised the Senate and National Assembly in General to ensure such percentage is always earmarked for Capital Projects, according to him this is clearly indicating judicious utilization of the public funds.
Similarly, the Deputy Senate President Barau jibrin in his contribution also supported the courage of the committee and the minister if the FCT fir the wonderful transformations going on in the FCT and the area councils.
He said so many developmental projects are ongoing in FCT which need to be completed for the betterment and survival of the Citizens and being the face of the country, hence the need to put in the right shape and position it deserves.
He commended the courage of the minister for his initiatives to make the FCT look like any other city in the world, commending President Bola Ahmad Tinubu for his political.efforts and support in ensuring Federal Capital City is well positioned.
Cov/Bashir M
