President Tinubu Approves FCT’s N1.1 Trillion Budget for 2024 Fiscal Year

President Bola Tinubu has given his approval for the Federal Capital Territory’s (FCT) budget totaling over N1.1 trillion for the fiscal year 2024. This announcement was made by the FCT minister, Nyesom Wike, during a media chat at his office in Abuja on Tuesday.

The approved budget is poised to have a significant impact on various sectors within the FCT, including infrastructure development, healthcare facilities, and the rehabilitation of schools.

This milestone follows the recent passage of the FCT appropriation bill’s second reading in the Senate last month. The breakdown of the N1.1 trillion budget reveals allocations of N280 billion for overhead expenses, N726 billion for capital projects, and N140 billion for personnel, resulting in a total budget of N1.147 trillion.

Senator Opeyemi Bamidele, who sponsored the bill, emphasized that the appropriation took into account the FCT administration’s revenue and expenditure forecasts, aligning with the fiscal and developmental policies of the Federal Government.