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Economy

Tinubu Okays N1.2trn 2024 Statutory Budget for FCT

By Modupe Gbadeyanka

A statutory budget of N1.2 trillion for the Federal Capital Territory (FCT) for the 2024 fiscal year has been approved by President Bola Tinubu.

This information was confirmed on Tuesday morning by the Minister of FCT, Mr Nyesom Wike, during a media chat in Abuja.

The N1.2 trillion budget, precisely N1.147 trillion, comprises N280 billion allocated for overhead, N140 billion earmarked for personnel, and N726 billion set aside for capital projects, bringing the total amount to N1.147 trillion.

The approval of the estimated spending for the year followed the passing of the second reading of the FCT Appropriation Bill at the Senate in March 2024.

The Minister, in his interview with newsmen today at his office, assured that the budget would impact infrastructure development, healthcare facilities, and rehabilitation of schools in the FCT.

He thanked Mr Tinubu for approving the budget, noting that he has no reason not to deliver on the mandate of the President, especially in his Renewed Hope Agenda.

He called for the support of residents of the nation’s capital, assuring that they will soon begin to enjoy the dividends of democracy and good governance like never before.

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