In a resolute move to bolster critical infrastructure development in Nigeria’s bustling capital city, Abuja, the National Assembly has decisively approved a supplementary budget totaling N98.5 billion for the Federal Capital Territory Administration (FCTA).
This significant allocation comes in response to President Bola Tinubu’s presentation of the supplementary appropriation bill, signaling a concerted effort to address pressing infrastructure deficits within the nation’s administrative hub.
During a pivotal session on Thursday, the House Committee on FCT, led by Hon. Aliyu Betara, diligently deliberated on the supplementary budget.
Betara eloquently articulated the committee’s stance, advocating for the allocated funds to be judiciously channeled towards essential infrastructure projects vital for Abuja’s sustainable development.
Emphasizing the bill’s overarching objective, Betara meticulously outlined the provisions authorizing the utilization of funds from the FCTA’s Statutory Revenue Fund to cater to capital projects, meticulously servicing the Federal Capital Territory’s multifaceted needs until December 31, 2024.
Betara further expounded on the procedural intricacies, elucidating that disbursements from the Statutory Revenue Fund would necessitate warrants signed by the Minister of FCTA.
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The total sum earmarked for expenditure stands at a staggering N61,553,778,260.00, subject to prescribed limitations. Underscoring the imperative for National Assembly appropriation before any disbursement from the designated account, the House additionally granted a waiver to the minister, facilitating the mitigation of potential expenditure constraints due to unforeseen revenue shortfalls.
Concurrently, the Senate deliberated on the supplementary bill, convening during its session to scrutinize the proposed budgetary allocations. Senate President, Senator Godswill Akpabio, adeptly steered proceedings, referring the bill to the Committee on FCT for meticulous examination.
With a directive to furnish a comprehensive report within a two-week timeframe, the committee stands poised to conduct a rigorous evaluation of the supplementary budget’s efficacy in addressing Abuja’s critical infrastructure needs.
Deputy Senate Leader, Senator Oyelola Ashiru, delivered a compelling presentation of the budget estimates, compelling fellow senators to endorse the bill as a catalyst for propelling infrastructure development in Abuja.
Echoing this sentiment, Deputy Senate President, Senator Barau Jibrin, passionately urged his colleagues to throw their weight behind the bill, citing prior deliberations and the imperative to advance the capital’s infrastructure agenda.
The resounding approval of the N98.5 billion supplementary budget represents a steadfast commitment to addressing Abuja’s critical infrastructure needs.
By allocating substantial resources for vital capital projects, the government aims to enhance essential services and foster sustainable urban development in Nigeria’s administrative center. This infusion of funds underscores Abuja’s pivotal role as a hub of economic activity and administrative governance, positioning the capital for heightened growth, resilience, and prosperity.
