Economy
The Senate on Friday approved N278 billion for the 2020 Federal Capital Territory Administration (FCTA) budget, against the N232 billion earlier presented by the FCTA .
The approval followed the presentation of a harmonised report of the Senate and House of Representatives Committees on FCT on the budget estimate.
Chairman of the Senate Committee, Sen. Abubakar Kyari (APC Katsina) said the committee, in carrying its oversight duties on the budget proposal, identified critical areas of need for development to ensure improved living standard of inhabitants of FCT.
He said this resulted in the increase of the proposed FCT 2020 revenue profile.
He said the committee empowered and gave matching orders to the chairman of FCT Internal Revenue Service to provide a one -stop shop for tax collection and other revenue collecting sources.
He said the committee deployed funds to meet areas of critical needs such as security, roads, water, health education and development of satellite towns within FCT.
According to Kyari, out of the total N232,875,365,947, Budget proposal presented by the FCTA, the committee recommended N278,355,365,947.
He said that N55, 878,241, 095 was recommended for personnel costs, while N62,343,723,435 was for overhead cost and balance of N160,133,401,417 was for capital expenditure.
He said the the Senate and House of Representatives Committee on FCT have harmonised the differences in the budget.
Kyari said the FCTA budget implementation was due to begin from Jan. 1 to Dec. 31, 2020.
Following the presentation, the Senate having earlier resolved into Committee of the Whole to consider the clause by clause recommendations on the budget report passed the recommendations when it reverted back to plenary.
President of the Senate Ahmad Lawan in his remarks thanked the committee for working on the budget in record time.
He said the re-convening of the Senate was bourn out of its commitment, dedication and capacity to deal with issues designed to better the lots of Nigerians.
He said the Senate had done its responsibility,adding that the FCT administration should endeavour to implement the budget accordingly.
He also said the Senate committees would monitor the implementation via its oversight functions.
Lawan called on the FCT authorities to ensure improved security in the FCT. He also commended the FCT authority for presenting the budget on time. (NAN)
– Dec. 21, 2019 @ 11:29 GMT |
Tags: 2020 FCTA Budget: Senate approves N278bn against N232bn proposal
