Senate passes N2.2trn FCT 2026 budget

The Senate connected Thursday passed the 2026 Statutory Appropriation Bill for the Federal Capital Territory, FCT, approving full expenditure of N2.285 trillion for the medication and improvement of the nation’s capital.

The transition followed the presumption and information of the harmonised study of the Senate and House of Representatives Committees connected the Federal Capital Territory during plenary successful Abuja.

The study was presented by Austin Akobundu, Vice Chairman of the Senate Committee connected FCT, connected behalf of Committee Chairman Ibrahim Bomai.

Presenting the report, Akobundu said the committees recommended N2.285 trillion arsenic the FCT statutory fund for 2026 from a projected gross estimation of N2.385 trillion.

He explained that the fund included N165.7 cardinal for unit costs, N378.2 cardinal for overhead expenditure, portion N1.741 trillion was allocated to superior projects crossed the territory.

According to him, the fund operation showed that 76.19 per cent of the full allocation would beryllium devoted to superior expenditure, portion recurrent expenditure accounted for 23.8 per cent.

Akobundu said the appropriation complied with law provisions and followed extended consultations betwixt the associated committees and officials of the Federal Capital Territory Administration, FCTA.

“The committees met with the curate and different applicable ...