Senate passes N199.2bn FCT 2020 budget


1 min read
10 Dec
10Dec

The Senate on Wednesday approved a budget of N199.2bn as the revised budget of the Federal Capital Territory for the 2020 fiscal year.The revised budget represents a 32 per cent reduction of its 2020 statutory Appropriation Act figure of N278.3bn.The Senate approval followed the presentation of the report by the Chairman of Senate Committee on FCT, Abubakar Kyari.Kyari presented the report titled, “Harmonized report of the 2020 Federal Capital Territory Appropriation Act (Repeal and Re-enactment) Bill, 2020,” to the committee of the whole Senate. 

He said, among other things, “the adverse impact of the COVID-19 pandemic in the accrued revenue of the FCT Administration compelled the need to expend resources on containment and management as well as intervention to cushion the effect of the harsh economic impact of COVID-19.”He added that the review of the 2020 statutory Appropriation Act of FCT was done to cater for expenditures that were not anticipated when the initial FCT 2020 Statutory Appropriation was passed.He said that the Capital Expenditure items were generally reviewed downwards by 50 per cent. 

He added that the personnel cost of the FCT in the revised 2020 budget is now N63.6bn, capital expenditure of N80.2bn while overhead cost will gulp N55.3bn.

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