The Federal Capital Territory Administration (FCTA) has presented the sum of N299.9billion as its budget for the 2021 fiscal year.
This is an increase of N101 billion, representing 34 per cent, over and above the 2020 budget. Minister of the Federal Capital Territory , Mallam Muhammad Bello, who made the presentation yesterday at the Senate, said the sum of N215.9 billion has been set aside as distributable revenue, while N84 billion would be the non distributable revenue.
According to the minister, 54.6 per cent of the entire budget has been earmarked for capital expenditure, while the balance of 45.4 per cent has been set aside as recurrent expenditure, comprising personnel and overhead costs. Bello disclosed that given the Expanded Accelerated Area Council Title Reissuance scheme designed to revolutionise land Administration, the FCTA administration might be compelled to return back to Senate for a supplementary budget later in the year.
Chairman, Senate Committee on FCT, Sen Abubakar Kyari (APC Borno North), said the meeting was scheduled to deliberate on the provisions of 2021 budget and performance of 2020 budget to sustain Federal Government policy of running the budget from January to December.