FCTA proposes N271bn for 2018

Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has said that his administration would spend N271.532 billion for the 2018 fiscal year.
The Minister, who made this disclosure yesterday, during a budget session with the Senate Committee on FCT, disclosed that the figure showed an increase of N49.171 billion over the appropriation for 2017 which was at N222.
360 billion. Bello also explained that a sectoral allocation which showed priority to capital expenditure, to the tune of N154.232 billion, represents 56.8 per cent of the estimate.
He noted that the overhead cost which came second with N61billion or 22.5 percent, while Personnel was estimated to cost N56 billion represents 20.68 percent of the total. He further maintained that the increase is based on the expected higher revenue generation by the FCT in view of the take-off of the FCT Internal Revenue Service (IRS) and expected increased funds from the federation account.
He however revealed that the Administration would pay important attention to the completion of ongoing infrastructure projects to make the city more livable.
The Minister further posited that N37.96 billion has been set aside for the Education Sector while the Health Sector received a whopping N22.8 billion.
Other major expenditure areas include resettlement & compensation – N8.9 billion and transportation sector – N20.5billion.
However the Abuja Light Rail Project would gulp N12.3billion.
While environment, water and agriculture sectors together have been allocated approximately N16.3billion among others.
He finally submitted that the budget would be funded from the 1 percent of the 52.68 per cent statutory allocation to the federal government from the Federation Account, Internally Generated Revenue (IGR) and other sources as contained in the Fiscal Framework of the Federal Government.
Speaking earlier, the Chairman, Senate Committee on FCT, Senator Dino Melaye, expressed delight at the remarkable improvement recorded in the Budget performance for the 2017 fiscal year which showed a 62 percent level of accomplishment.
He congratulated the FCT Administration for the successful commissioning of the Abuja Rail Mass Transit system, while harping on the necessity for honesty, prudence and transparency in the management of government resources.

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