Rédaction Africa Links 24 with Ibrahim Ramalan
Published on 2024-03-19 06:32:53
The Minister of the Federal Capital Territory, FCT, Nyesom Wike, presented the N1.15 trillion 2024 proposed FCT Statutory Budget with the aim of transforming the capital city and rural communities. He highlighted that out of the total budget, N421.44 billion was allocated for recurrent expenditure, representing 36.7%, while N726.3 billion was designated for capital expenditure, representing 63.3%.
During his appearance before the Senate and House Committees on FCT in Abuja, Mr. Wike elucidated on the focus of the proposed capital expenditure. He emphasized that it would primarily be utilized for infrastructure development, particularly for the completion of ongoing projects. The breakdown of the capital expenditure includes N80 billion for SUKUK loan projects, N29 billion for the Abuja Light Rail project, and N500 billion for commercial loans to complete ongoing capital projects in the federal capital city and satellite towns. The remaining N117.3 billion is allocated for the completion of ongoing capital projects and counterpart funded projects aimed at enhancing socio-economic activities in the FCT.
The Federal Capital Development Authority (FCDA) and Satellite Towns Development Department (STDD) received the largest portion of the capital budget. FCDA was allocated N457 billion, STDD N116 billion, and other Secretariat, Departments, and Agencies (SDAs) N153.3 billion, to address critical areas such as road construction, water treatment plant completion, and new projects.
The N457 billion allocated to FCDA includes provisions for infrastructure development within and around the capital city, with N282 billion allocated for ongoing projects and N175 billion for new critical projects. Mr. Wike highlighted key projects to be executed, such as the completion of Roads B6 and B12, construction of access road and car park for Abuja Light Rail, development of major roads, and provision of engineering infrastructure in various districts in the FCT.
Additionally, the transportation sector received N69 billion, with N32 billion allocated for the construction of Bus Terminals Development. The education sector was allotted N80.3 billion, while the health sector received N45.7 billion for hospital construction and capacity enhancement. The agriculture and rural development sector was allocated N7.9 billion to improve agricultural production and engage youths in agriculture for food security and better living standards in rural communities.
Furthermore, funds were allocated to the Social Development Secretariat, Legal Services Secretariat, Abuja Geographic Information System, and Area Council Services Secretariat to support various aspects of development and service delivery in the FCT.
In conclusion, the National Assembly commended the minister for his development efforts in the FCT and pledged their full support. The proposed budget aims to drive sustainable development, infrastructure growth, and enhance the overall quality of life in the Federal Capital Territory.
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