The Federal Capital Territory (FCT) Statutory budget of N329.96 billion for the 2021 fiscal year has been passed by the Senate.
The approval given on Tuesday during plenary following the report of the upper chamber’s Committee on FCT on the FCT Appropriation Bill, 2021.
Sen. Abubakar Kyari, Chairman of the Committee while presenting the report explained that the N329.96 billion budget includes N196.91 billion capital expenditure, N74.32 billion for personnel cost, and N58.73 billion overhead expenses.
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He disclosed that the overall performance of the FCT 2020 Statutory Budget Allocation was 88 percent as at 31st December, 2020.
He said that most projects executed by the Federal Capital Territory Administration (FCTA) and the Federal Capital Development Administration (FCDA) are still ongoing ““due to overbearing ineptitude of getting the Due Process Certificates on time.”
“New and ongoing projects were not sufficiently funded due to delay in the release of funds, occasioned by bureaucratic bottlenecks,” he said.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
