Nigeria: One Month to End of the Year, Reps Pass N607.9 Billion FCT 2022 Budget

President Muhammadu Buhari had on14 November transmitted the FCT budget to the House for consideration.

The House of Representatives has passed the N607.9 billion 2022 budget of the Federal Capital Territory (FCT).

The lower chamber passed the budget on Tuesday after the Committee of Supply considered the report submitted by the House Committee on FCT.

President Muhammadu Buhari had on14 November transmitted the budget of the territory to the House.

Mr Buhari in the letter said the “budget proposal prioritises improvement in healthcare services, job creation, youth empowerment, social welfare services.”

The budget has a capital projects component of N403.7 billion, overhead expenditure of N127 billion and personnel cost of N76 billion.

There has been substantial increase in the budget of the FCT in the past 12 years. The 2021 budget was N329.9 billion

The breakdown of the 2021 budget comprises N74,323,382,813 for Personnel Costs; N58,728,614,466 for Overheads; and N196,911,494,243 for Capital Projects.

The capital component of the 2022 budget has more than doubled the 2021 estimate. N403.7 billion is proposed for capital expenditure in 2022, while N196.9 billion was allocated to 2021.

Likewise, the overhead component also increased from N58.7 billion in 2021 to N127 billion in 2022.

While passing the budget, the House resolved that “In the event that the implementation of any of the projects intended to be undertaken under this Bill cannot be completed without virement, such virement shall only be effected with the prior approval of the National Assembly.”


Leave a Reply

Your email address will not be published. Required fields are marked *