On Tuesday, March 19, the Senate approved the Federal Capital Territory’s (FCT) budget for the fiscal year 2024 at N1.282,270,710,283.00.
The budget was passed after the Senate and House of Representatives FCT Committees adopted and approved the recommendations in their harmonized report on the 2024 FCT statutory Appropriation Bill at plenary.
The chairman of the Senate Committee on FCT, Senator Ibrahim Bomoi, presented the report.
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Of the amount, the sum of N140,915,003,856.00 is for personnel cost while N373,027,373,668.00 is for overhead cost.
The balance sum of N768,328,232,759.00 is for capital projects for the FCT financial year commencing from 1st January to 31st December 2024.