The N199 billion revised budget is about N79 billion lower than the 2020 statutory Appropriation Act figure of N278.4 billion.
The budget approval was a sequel to the consideration of the report of the Senate committee on FCT.
The chairperson of the panel, Abubakar Kyari, made the presentation titled: “Harmonized report of the 2020 Federal Capital Territory (FCT) Appropriation Act (Repeal and Re-enactment) Bill, 2020.”
Of the total budget, N63.6 billion was approved for personnel cost and N55.3 billion for overhead cost.
Mr Kyari informed the Senate that the capital expenditure items were generally reviewed downwards by 50 per cent and is now put at N80.2 billion.
In his presentation, the lawmaker noted that the adverse impact of the COVID-19 pandemic in the accrued revenue of the FCT Administration compelled the need to expend resources on containment and management as well as intervention to cushion the effect of the harsh economic impact of COVID-19.
The review of the 2020 statutory Appropriation Act of FCT was done to cater for expenditures that were not anticipated when the initial FCT 2020 Statutory Appropriation was passed and the fiscal framework for the revised 2020 statutory appropriation showed actual receipts of January to August, 2020, he said.
“Actual monthly receipts from January to December 2020 would therefore increase proportionately by three months, including the months of October to December 2020.
“The Committees consequently increased the Fiscal Framework in the Statutory Revenue Allocation and Value Added Tax, thus bringing the total expenditure to N199,240,531,350.00 only.”
A few senators, who contributed, supported the report of the committee.
The lawmakers, thereafter, resolved into a committee of supply to consider the budget clause-by-clause – after which it was passed.
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: To advertise here . Call Willie +2347088095401...