The Senate yesterday passed for second reading a N288billion Supplementary budget for the Federal Capital Territory Administration (FCTA). This fresh budget comes after the Senate passed the sum of N98.5billion Supplementary budget for the FCT in June.
The Senate Leader, Opeyemi Bamidele in his lead debate said the supplementary appropriation became necessary to accommodate additional inflows from Internally Generated Revenues (IGR) and other revenues of the FCTA.
Bamidele said: “A Bill for an Act to issue from the Federal Capital Territory Administration Account the total sum of N288bn only arising from a need to accommodate additional inflows from Internally Generated Revenues (IGR) and other revenues in the sums of N8billion only and N280billion only respectively; and for other related matters, 2024.”
The passage of the budget followed a correspondence from President Bola Tinubu dated September 19, 2024 addressed to the National Assembly. Tinubu said the supplementary budget for the FCTA was pursuant to the provision of the 1999 Constitution (as amended).
