The Home of Representatives on Tuesday handed the N1.28 trillion finances of the Federal Capital Territory Administration offered to the Nationwide Meeting.
The passage of the finances adopted a report submitted to the Home by the Chairman of the Home Committee on FTC, Mukhtar Aliyu Betara, following a finances defence by the Minister of the FCT, Nyelsom Wike.
Out of this allocation, N140.915 billion is earmarked for personnel prices, whereas N373.027 billion is allotted for overhead prices.
The remaining N768.328 billion is designated for capital tasks to serve the wants of the FCT.
Wike had on Monday throughout an look earlier than the Senate and Home Committees on FCT defended the finances, saying the doc is designed to remodel the capital metropolis and rural communities.
Wike defined that the proposed capital expenditure can be devoted to the event of infrastructure with emphasis on the completion of ongoing tasks.
In his presentation, Betara acknowledged, “The Home do obtain the Report of the Committees on Federal Capital Territory and Federal Capital Territory Space Councils and Ancillary Issues on a Invoice for an Act to Authorise the problem from the Federal Capital Territory Administration’s Statutory Income Fund of the Federal Capital Territory Administration Account, the full sum of N1,282,270,610,283.00 (one trillion, 2 hundred and eighty-two billion, 2 hundred and seventy million, 600 and ten thousand, 2 hundred and eighty-three Naira solely).”
Talking on the finances defence session, Betara requested the Minister to prioritize transparency, accountability, and adherence to budgetary pointers in undertaking execution within the territory.
The lawmaker, who underscored the committee’s dedication to making sure environment friendly fund utilization for tangible advantages amid FCT’s developmental challenges, pressured the necessity for strong monitoring mechanisms to trace undertaking progress and maintain authorities accountable.
The Home mandated the Minister of FCT and the Director of Treasury shall furnish the Nationwide Meeting, on a quarterly foundation, the standing of the information of the Federal Capital Territory Statutory Accounts.
