The Senate has approved the Federal Capital Territory (FCT) Supplementary Appropriation Bill for 2024, amounting to N98.5 billion. The bill was passed following the review of a report by the Senate Committee on FCT during a plenary session.
Senator Osita Ngwu (PDP-Enugu West), Vice Chairman of the Committee, presented the report on behalf of the Committee Chairman, Senator Bomai Mohammed (APC-Yobe South), who was absent.
The previous week, the Senate had delayed consideration of the bill due to a lack of detailed information, including budget performance, revenue sources, and target expenditure areas.
The FCT 2024 Supplementary Appropriation Bill aims to authorize the issuance of N98.5 billion from the Federal Capital Territory Administration Consolidated Revenue Fund. This amount is intended to accommodate additional inflows from Internally Generated Revenue, revising the total FCT-IRS 2024 Statutory Revenue Appropriation to N348.720 billion.
In addition to this, the Senate approved a budget of N1.911 trillion for the Niger Delta Development Commission (NDDC) for the 2024 fiscal year. The NDDC had presented this budget to the National Assembly on Monday, aligning with the federal government’s “Budget for the Renewed Hope.”
The NDDC budget covers the nine oil-producing states: Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers.
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