•Extends implementation of 2022 capital, supplementary budget to December 31
Udora Orizu in Abuja
The House of Representatives at plenary yesterday, passed N579.69 billion budget of the Federal Capital Territory (FCT) for the 2023 financial year.
This followed the passage through third reading, a bill for an Act to authorise the issue from the Federal Capital Territory Administration’s Statutory Revenue Fund of the Federal Capital Territory Administration Account, the total sum of N579,693,907,532.00.
Out of the amount, N78.135, N78.13 billion was for personnel cost and N122.51 billion was allocated for overhead costs; while the balance of N379.04 billion is for capital projects; for the financial year commencing from January 1 and ending on December 31, 2023.
Similarly, the House approved the total sum of N876 billion budget for Niger Delta Development Commission (NDDC) for the 2023 financial year.
This was sequel to the consideration and adoption of the report of the House Committee on Niger Delta Development Commission (NDDC), chaired by Hon. Olubunmi Tunji Ojo (APC, Ondo) by the committee of supply.
Out of the amount N34.24billion was for personnel expenditure, the sum of N17.47 billion was for overhead expenditure, the sum of N3.71 billion was for internal capital expenditure and the sum of N490.55 billion was for development projects for the service of the NDDC for the financial year ending March 31, 2024.
The NDDC managing director, Samuel Ogbukwu had during the budget before the House Committee supervising the commission said the revenue estimate included cash brought forward of N5 billion, federal government statutory transfers of N150 billion.
He said others are: “Unpaid arrears of N450 billion being expected revenue from the Federal Government through recovery by the EFCC from oil companies. Expected revenue of N250 billion from the Oil & Gas Companies. Expected N20 billion from Ecological fund; N500million from internally generated (bank interests and sales of boarded items).”
Also, the House extended the implementation of the capital aspect of the 2022 budget and the supplementary appropriation for the preceding financial year.
This followed the passage for first, second readings and consideration and adoption of the report for a Bill for an act to amend the Appropriation Act, 2022 to extend the implementation of the capital
aspect of the appropriation act, 2022 from June 30 to December 31, 2023.
The executive bill was sponsored by the majority leader, Alhassan Ado-Doguwa and considered by the committee of supply.
The House had last year passed a bill for an act to Amend the Appropriation Act, 2022, to extend the implementation of the capital aspect from 31 December, 2022, to 31 March, 2023.
The green chamber also approved the N819.54 billion supplementary budget sent by President Muhammadu Buhari.
Buhari had in a letter to Speaker Gbajabiamila said the request was meant for the capital expenditure component of the 2022 budget and would be financed through new domestic borrowings.
Buhari also said the addition became necessary due to the devastation caused by floods on farmlands and road infrastructure.
The letter read: “The year 2022 witnessed the worst flood incidents in recent history in the country which has caused massive destruction of farmlands at the point already close to the harvest season. This may compound the situation of food security and nutrition in this country.
“The flood also devastated the road infrastructure across the 36 states and the FCT and it affected several sections of major roads and bridges nationwide that are critical to movement of goods and services. The water sector was also affected by the flood and there is the need to complete some ongoing critical projects that have achieved about 85 percent completion.”