By Stanley Onyekwere
The Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello has presented the FCT 2021 Statutory Budget proposal in the sum of N299,963,491,522.46 to the Senate Committee on FCT.
A break down of the total expenditure shows that total recurrent expenditure is N136,312,350,743.21 while capital expenditure is N163,651,140,779.25 respectively.
Also, the sum of N74,523,382,813.15 is proposed as Personal costs while pverhead Costs is N61,788,967,930.06 respectively.
Equally, the sum of N136,312,350,743.21 representing 54.56% is proposed as capital expenditure for the year 2021, which is for the development of infrastructure with emphasis on completion of ongoing projects.
Out of the proposed capital expenditure, the sum of N78,793,795,841.000 is dedicated to the completion of the ongoing Abuja Light Rail projects and other counterpart funded related projects aimed at enhancing socioeconomic activities of the FCT.
Similarly, the Federal Capital Development Authority (FCDA) is allocated the sum of N26.7 billion and Satellite Towns Development Department (STDD) the sum of N17.7 billion.
Also, other SDAs were allocated the cumulative sum of N40,903,488,220.00 for their capital expenditure, in order to address critical critical areas like ongoing road construction, water treatment plan and related facilities, but with new projects.
Presenting the Budget estimates to the Senate, Bello revealed that the 2021 budget preparation aligned with the federal government budget parameters, as well as took into consideration assumptions for the 2021 national budget.
Bello added that the budget proposal has also taken into account the estimated revenue accruing to the FCT through the federation account and recognises other in-house efforts to boost revenue generation capacities in FCT.
He explained that the focus of the capital budget is mainly on completion of ongoing projects that have high impact on service delivery to the FCT residents.
He disclosed that a fiscal framework of the sum of N299,963,491,522.46 comprising distributable revenue of N215,951,023,735.00 and non-distributable revenue of N84,012,467,787.46 have been proposed for the FCT 2021 statutory budget after due consultations with all revenue generating agencies of the FCTA.
According to him, there is an increase of the sum of N100,722,960,173.00 (34%) in the 2021 budget proposal, when compared with the revised 2020 appropriation of the sum of N199,240,531,350.00.Furthermore, the Minister revealed that the sum of N7.5 billion is earmarked for the expansion and rehabilitation of seven major roads in 2021, in order to speed up their completion before the end of the fiscal year.
He added that the sum of N17.7 billion is proposed for infrastructural development in the Satellite Towns, of which the key projects are; engineering infrastructure to Kubwa, Bwari, Karshi, Wasa and extension of Karshi-Apo Road.
While thanking the committee for the opportunity provided to the FCT Administration to defend its 2021 statutory budget proposal, Bello expressed conviction that with legislative and moral support, the development of the nation’s capital city to its envisaged status of a modern city comparable to any in the world will be achieved.
Earlier, in his welcome remarks, Chairman of the Senate committee, Senator Abubakar Kyari, said the committee will ensure the full implementation of the budget, through its oversight functions, to ensure effective service delivery to the residents of the FCT.
He however reiterated that the FCT Minister should ensure that budget proposal should henceforth be presented on or before September of the preceding year, for proper and efficient delibration and implementation.
The FCT Statutory Budget is funded from a combination of 1% of the 52.68% statutory allocation of the federal government from the federation account, Internally Generated Revenue (IGR) efforts and other sources as contained in the Revenue Fiscal framework, for the execution of recurrent and capital expenditure in the Federal Capital Territory (FCT).
