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MINISTER WIKE UNVEILS AMBITIOUS OVER ONE TRILLION NAIRA FCT BUDGET                                                                                                                    19-03-24

By Sadiq Aminu                                                      The Minister of the Federal Capital Territory, FCT, Mr. Nyesom Wike has revealed the details of the proposed N1.15 trillion 2024 statutory budget aimed at transforming both the capital city and rural communities.

Presenting the budget before the Senate and House Committees on FCT in Abuja, Mr. Wike outlined the allocation of funds towards recurrent and capital expenditures, emphasizing infrastructure development and ongoing project completion.

Of the total budget, N421.44 billion is allocated for recurrent expenditure, while N726.3 billion is designated for capital expenditure.

N80 billion is earmarked for SUKUK loan projects, and N29 billion is allocated for the Abuja Light Rail project.

Additionally, N500 billion is designated for commercial loans to complete ongoing capital projects in the federal capital city and satellite towns.

The Federal Capital Development Authority (FCDA) and Satellite Towns Development Department received the largest share of N457 billion and N116 billion.

These allocations aim to address critical areas such as road construction, water treatment plant completion, and new projects to enhance socio-economic activities.

The transportation sector receives N69 billion, with significant allocations for the construction of bus terminals and development projects in education and health sectors.

The proposed budget also allocates funds for agriculture and rural development, aiming to improve agricultural production, engage youths in agriculture, and enhance food security.

Additionally, allocations are made for social development, legal services, Abuja Geographic Information System (AGIS), and Area Council Services Secretariat to ensure effective service delivery and rural transformation.

Earlier, the Chairmen of the Senate and House Committees on FCT commended Wike for his development initiatives and assured him of the National Assembly’s full support in realizing the goals outlined in the budget proposal.

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