Senate Passes FCT, NCC, NDDC Budgets

Senate-President-Senator-David-Mark-pg-8

The Senate has passed the sum of N271 billion as the Federal Capital Territory (FCT) budget for the 2014 fiscal year.

Of the sum, N161, 804,111,031 is for the capital expenditure while N109,238,434,881 is for recurrent expenditure.

A breakdown of the recurrent expenditure shows that the sum of N60,03,490,023 is for overheads while N49,200,944,858 is for personnel cost.

The approval of the budget followed the consideration of the report of the Senate Committee on FCT by Senate.

The capital expenditure is expected to take care of the expansion and rehabilitation of Airport and Kubwa Expressways and the provision of infrastructure to on-going districts such as Jahi, Wuye, Maitama Extension and Abuja North-West.

There is also provision for the opening of new districts in the FCT such as Kyami, Mbora and others.

The sum of N2billion was earmarked for construction and completion of various engineering infrastructure projects in the satellite towns of the territory.

The Senate also passed the sum of N52.5 billion and N322.6billion as the budgets of the Nigerian Communications Commission (NCC) and the Niger Delta Development Commission (NDDC) respectively.

The NDDC’s budget is composed of N15.08billion for personnel expenditure, N9.9billion for overhead cost, N1.912billion for Internal Capital expenditure and N295.63billion for development projects.

The NCC’s budget comprises of N14.8billion recurrent expenditure, N15billion capital projects, N3.4billion special projects, N10.8billion transfers to the Federal Government and N8.4billion for Universal Service Provision Fund.