17 January 2013

Nigeria: FCTA Proposes N253.2 Billion Budget for 2013

The Federal Capital Territory Administration (FCTA) has proposed a total sum of N253.2 billion as its statutory budget for the 2013 fiscal year.

This was contained in a letter from President Goodluck Jonathan, addressed to Senate President David Mark and read on the floor of the Senate yesterday.

In the letter, Jonathan said he presented the budget to the Senate pursuant to Section 299 of the 1999 Constitution which vests legislative powers over the Federal Capital Territory (FCT), Abuja on the National Assembly.

The letter, dated November 30, 2012, put the capital expenditure of the FCTA budget for the year at N155.6 billion; personnel cost, N48.03 billion; and overhead cost, N49.5 billion.

The president expressed optimism that the budget would be promptly considered and passed by the Senate.

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