The National Assembly, through both committees on the Federal Capital Territory, yesterday praised the Minister of the FCT, Nyesom Wike, for past budget performances.
The Minister was praised when he appeared before the Senate and House Committees on FCT to defend the 2025 FCT budget.
Wike defended the FCT budget of N1.78trn which was sent to the National Assembly by Mr. President recently.
He explained that out of the N1.78trn, N1.28trn was earmarked for capital projects, representing 72.3 per cent, while N494.1bn was set aside for recurrent expenditures, representing 27.7 per cent.
He added that the recurrent expenditure comprised N150.4bn personnel and N343.8bn overhead costs.
He said the N1.78trn 2025 budget was N115bn higher than the N1.67trn 2024 revised budget, representing a seven per cent increase.
According to the Minister, this increase was necessary to achieve a realistic budget performance, considering the remarkable improvement in revenue generated in the 2024 fiscal year.
Providing a further breakdown of the proposed capital budget, Wike said that the N1.28trn was for the development of infrastructure, with emphasis on completing ongoing projects.
He added that N919.7 bn of the amount was dedicated to completing ongoing capital projects and other counterpart-funded related projects aimed at enhancing socio-economic activities in the territory.
He also said that N80bn was set aside for SUKUK loan projects, N25bn for the Abuja Light Rail project and N15bn for the Abuja Greater Water Supply project.
Wike further said that N250bn was earmarked for commercial loans planned to complete some ongoing capital projects in the federal capital and satellite towns.
He said N801.5bn was allocated to the Federal Capital Development Authority for the capital expenditure.
This, he described as the “engine room” of the FCT Administration.
Wike also said N137bn was allocated to the Satellite Towns Development Department, while N351.2bn was set aside for other FCT Secretariats, Departments and Agencies for capital projects.
Speaking on the performance of the 2024 budget, Wike said that out of the N1.67trn revised budget, N1.23bn was spent as of December 2024, representing a 74 per cent performance.
The Minister attributed the successes being recorded to the laudable support of the National Assembly and President Bola Tinubu.
“I thank you very much for the opportunity provided to the FCT Administration to defend its 2025 statutory budget proposal.
“It is my conviction that with your legislative and moral support, the development of our capital city to its envisaged status of a modern city comparable to any in the world will be achieved,” Wike said.
The Chairman of the Senate Committee on FCT, Senator Ibrahim Bomai, assured the Minister of the Senate’s support, stressing that his performances were visible to everyone.
Bomai praised the government’s strong preference for capital expenditures and described the budget as “one of the best.”
Similarly, Muktar Betara, the Chairman of the House of Representatives Committee on FCT, commended the Minister for the FCT’s ongoing transformation.
Betara assured the Minister of the Green Chamber’s continued support, adding that the committee would conduct periodic inspections to assess the situation and provide necessary advice.
