Senate passes N271.1bn 2014 FCT budget

The Senate on Tuesday considered and approved the Federal Capital Territory (FCT) budget for 2014, estimated at N271.1bn.

The upper chamber also passed the 2014 budget proposal of the Niger Delta Development Commission (NDDC), estimated at N322.6bn while the N50.2bn budgetary proposal of the Nigerian Communications Commission (NCC) was equally approved by the senators.

The breakdown of the FCT budget presented by vice chairman of the committee on the FCT, Senator Alaba Obende, showed that N49.2bn was earmarked for personnel costs, N62.8bn for overhead costs, N112bn for recurrent expenditure, N159bn for capital expenditure, while it recorded a surplus of N324m.

Some of the capital projects listed in the budget include the expansion and rehabilitation of airport and Kubwa expressways, and provision of infrastructure to ongoing districts such as Jabi, Wuye, Maitama extension and Abuja north-west.

The budget also made a N6bn provision for security administration for the FCT, N16bn for the health sector, and N5bn capital expenditure for the education sector, among others.

The capital component of the project made provision for the opening of new districts in the FCT such as Kyami, Mbora and others. To this effect, the sum of N2bn was earmarked for construction and completion of various engineering infrastructure projects in the satellite towns of the territory.

The breakdown of the N322.6bn NDDC budget also showed that N15bn was allocated for personnel costs, N9.9bn for overhead costs, N1.9bn for capital expenditure while project expenditure was estimated at N295.6bn.

The breakdown of the NDDC budget further showed that N23bn is expected as revenue projection; N50bn as federal government contribution, N130bn as oil companies contributions, among others.