FCT Proposes N174b Budget In 2015 | Independent Newspapers Limited
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FCT Proposes N174b Budget In 2015

Posted: May 22, 2015 at 9:23 am   /   by   /   comments (0)

By Ignatius Okorocha, Abuja

Senate on Thursday passed for a second reading, the 2015 Federal Capital Territory ( FCT) statutory Appropriation bill totaling the sum of N174,068,999,970( One Hundred and seventy four billion, sixty eight million, nine hundred and ninety nine thousand, nine hundred and seventy naira only.

Victor Ndoma Egba

Victor Ndoma Egba

The bill was subsequently referred to the committee on FCT and expected back in plenary on Tuesday next week.

Leading the debate, Senate Leader Victor Ndoma-Egba noted that the FCT statutory budget proposals of the sum of N174,068,999,970 is N96,973,545942 less than the sum of N271,042,545,912 for 2014 appropriation thus signifying 35% decrease.

He said” the sum of N174,068,999,970 only is proposed as the expenditure for 2015. Out of this sum of N46,034,684,503 is for personnel cost, the sum of N28,589,912,096 is for Overhead costs and the costs and the sum of N99,444,403,371 is for capital expenditure “.

“Out of the 2015 total proposal, the sum of N27,850,000,000 is dedicated to projects on rail and other counterpart fund related projects. Other important projects like the ongoing road construction, water treatment plant.

“Some new projects were considered in the 2015 budget proposal with a provision of the sum of N50,000,000,000 to the federal capital development authority, the sum of N10,000,000,000 to the satellite towns development department while the sum of N11,594,403,371 was proposed for other secretariats, departments and agencies as capital expenditure.”

The Senate Leader listed the following as some of the crucial projects to be executed by the FCDA in the year 2015.

“Expansion and rehabilitation of outer northern express way(ONEX) and airport expressway : the sum of N7,650,000,000 is earmarked for the completion of the above two major roads before the end of year 2015. The expansion and rehabilitation of these roads when completed will remove the traffic congestion experienced by commuters and will drastically reduce travel time”

“Provision of infrastructure facilities to districts and road construction, the sum of N12,000,000,000 is proposed for the provision of infrastructural facilities to Jahi, Wuye, Maitama extension, Abuja north west and katampe districts while the sum of N9,450,000,000 is earmarked for the completion and construction of some vital roads in the city. While the sum of N2,000,000,000 is proposed for the lower Usman Dam, Gurara road”

“ The sum of N3,100,000,000 is proposed for the provision of public buildings which include construction of Banquet Hall within the presidential villa, rehabilitation of ECOWAS parliament building and rehabilitation of United Nations Building “

“ The sum of N2,385,000,000 is being proposed for construction of resettlement Houses and payment of compensation in the 2015 fiscal year”.

Shading more light on the budget proposal Ndoma-Egba explained that considering the dwindling funding from the statutory revenue allocation, emphasis has been placed on the completion of ongoing projects particularly those with high impact on the provision of services and infrastructure to the residents of the FCT” however, a few new projects that are considered absolutely necessary have been included in the budget proposal.”