The House of Representatives, on Thursday, passed the N98.5bn 2024 supplementary budget for the Federal Capital Territory Administration.
President Bola Tinubu recently presented the bill to the parliament, reminding the lawmakers that the money was needed to address critical infrastructure in the nation’s capital not captured in the 2024 budget.
The Chairman, House Committee on Federal Capital Territory, Aliyu Betara, presented the report of the committee to the House for consideration.
“This House do consider the report of the Committee on Federal Capital Territory on a Bill for an Act to authorise the issuance from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration account, the total sum of N98.5bn only for capital projects; for the service of the Federal Capital Territory, Abuja, for the financial ending December 31, 2024,” the report read in part.
Betara, who represents Biu/Bayo/Shani Federal Constituency of Borno State, said the committee did a thorough work on the proposal and concluded that the money would go a long way in addressing the infrastructural gaps in the nation’s capital.
On the release of funds, the proposed legislation provides that “All amounts appropriated under the bill shall be made from the Federal Capital Territory Administration Statutory Revenue Fund only for the purposes specified in the schedule to this bill.
“All revenues accruing to the Federal Capital Territory Administration, including the statutory revenue distribution shall be paid into the Federal Capital Territory Administration’s Statutory Revenue Account.
“No monies shall be withdrawn from the account mentioned in Section 3(1) above without appropriation by the National Assembly.”
It, however, granted a waiver to the FCT Minister, saying “Where, due to revenue shortfall, amounts appropriated under this bill cannot be funded, the Minister of Federal Capital Territory shall seek from the National Assembly a waiver not to incur such expenditure.”
The committee’s report was adopted by the House when put to a voice vote by the Deputy Speaker, Benjamin Kalu, who presided over plenary on Thursday.
