N98.5bn FCT Supplementary budget finally passes second reading in the Senate

By Iyojo Ameh

The Senate has passed for second reading N98.5billion 2024 supplementary budget for the Federal Capital Territory during plenary in Abuja

Recall that the second reading of the bill which seeks to consolidate the ongoing projects in the Federal Capital Territory, FCT and the six area councils within the territory
was earlier stepped down on Wednesday pending when copies of details would be made available for Senators.

Also recall that the Senate leader, Senator Opeyemi Bamidele (APC, Ekiti Central) during Wednesday’s plenary presented the bill before the Senate but failed to offer a breakdown of how the funds would be spent, leading to rejection by his colleagues.

The second reading of the bill was therefore stepped down pending when copies of details would be made available for Senators.

The bill considered on Thursday , proposes a total revenue of N98.5 billion, resulting in a revised total FCT IRS 2024 statutory revenue appropriation of N348 billion.

The executive bil is titled, “A Bill for an Act to authorise the issue from the Federal Capital Territory Administration Consolidated Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N98,500,000,000 (Ninety Eight Billion, Five Hundred Million Naira) only, to accommodate additional inflow from Internally Generated Revenue (IGR), resulting to a revised total FCT-IRS 2024 Statutory Revenue Appropriation to the sum of N348,720,000,000 (Three Hundred and Forty Eight Billion, Seven Hundred and Twenty Million Naira); and for other connected matters, 2024.”