By Nathaniel Zaccheaus, Abuja
The Senate has passed for second reading a fresh N288bn Supplementary budget for the Federal Capital Territory Administration.
The Senate Leader, Opeyemi Bamidele, presented the bill yesterday at plenary.
He stated that the appropriation needed to be passed to accommodate additional inflows from Internally Generated Revenues and other revenues.
He said, “The Bill for an Act to issue from the Federal Capital Territory Administration Account the total sum of N288,000,000,000 only arising from a need to accommodate additional inflows from Internally Generated Revenues (IGR) and other revenues in the sums of
N8,000,000,000 and N280,000,000,000 only respectively; and for other related matters, 2024.”
The passage of the budget followed President Bola Tinubu’s correspondence dated September 19, 2024, addressed to the National Assembly.
In the letter, Tinubu said the supplementary budget for the FCTA was pursuant to the provisions of the 1999 Constitution (as amended).
The letter read, “I write by the provisions of Section 121 of the Constitution of the Federal Republic of Nigeria, to forward an additional supplementary budget proposal for the FCTA for consideration and passage by the House of Representatives.
“This supplementary budget proposal has been prepared based on the FCTA’S reviewed revenue and expenditure forecasts and is aligned with the fiscal and developmental policies of the Federal Government and the Renewed Hope Agenda.
“With it, the FCTA continues to prioritise the improvement of human capital and infrastructure within the Federal Capital Territory.
This fresh supplementary budget comes after the Senate passed the sum of N98.5bn Supplementary budget for the FCT in June.
