On Wednesday, September 25, the Senate approved a supplementary budget of N288 billion for the Federal Capital Territory Administration (FCTA) during its second reading. This new budget follows the Senate’s approval of a N98.5 billion supplementary budget for the FCTA in June.
Senate Leader Opeyemi Bamidele, in his presentation, stated that the supplementary appropriation was necessary to incorporate additional revenues generated internally and other income sources for the FCTA.
Bamidele remarked, “A Bill for an Act to withdraw from the Federal Capital Territory Administration Account a total of N288 billion, necessitated by the need to incorporate extra revenues from Internally Generated Revenues (IGR) amounting to N8 billion and N280 billion respectively, as well as other associated matters for 2024.”
The budget’s passage was prompted by a letter from President Bola Tinubu, dated September 19, 2024, addressed to the National Assembly. In his letter, Tinubu indicated that the supplementary budget was in line with the provisions of the 1999 Constitution (as amended).
The letter partially states: “I am writing in accordance with Section 121 of the Constitution of the Federal Republic of Nigeria to submit an additional supplementary budget proposal for the FCTA for the Senate’s consideration and approval.
“This supplementary budget proposal has been prepared based on the revised revenue and expenditure forecasts of the FCTA and aligns with the fiscal and developmental policies of the Federal Government, as well as the Renewed Hope Agenda. With this, the FCTA continues to prioritize enhancing human capital and infrastructure within the Federal Capital Territory.”
After the bill’s second reading, Deputy Senate President Barau Jibrin, who presided over the session, referred it to the Senate Committee on FCTA for further legislative action.
