FCT’s Fiscal Ambitions: N1 Trillion Budget Proposal Unveiled for 2024

Anticipated Surge: FCT Eyes N1 Trillion Budget for 2024

Budget Projection Unveiled:

The Federal Capital Territory (FCT) could witness a significant boost in its budget allocation, potentially reaching N1 trillion for the upcoming fiscal year, as hinted by Muktar Betara Aliyu, the Chairman of the House Committee on the FCT.

The revelation came during the committee’s inauguration ceremony at the National Assembly complex in Abuja.

Purpose and Advocacy:

Aliyu underscored the crucial need for such substantial funding to facilitate an environment conducive to the implementation of FCT Minister Nyesom Wike’s ambitious development agenda.

He argued that a mere budget allocation of N90 billion would limit the Minister’s ability to expedite the FCT’s development effectively.

Forward-Looking Plans:

“In 2024, we are planning for a budget of N1 trillion or more for him to commence work.

If it were up to us, we would increase the budget because we have a committed Minister eager to make a difference,” Aliyu declared, emphasizing the committee’s dedication to supporting Wike in generating more revenue for the upcoming year.

Commendations and Concerns: FCT Minister’s Stewardship Under Scrutiny

Positive Steps Acknowledged:

Aliyu commended the Minister for proactive measures aimed at boosting revenue, including ground rent payments, the revocation of undeveloped plots, and the demolition of illegal structures.

These actions were seen as positive steps towards realizing the FCT’s development goals.

Cautionary Note:

However, committee member Regina Akume raised a cautionary note, urging the FCT Minister to consider the hardships faced by Nigerians, especially after the removal of fuel subsidies, when implementing measures such as demolishing illegal structures.

Strategic Development Recommendations:

Mark Obeta, another committee member, advised the Minister to focus on developing satellite towns to alleviate congestion in the center of Abuja, offering a strategic solution to urban congestion.

Minister’s Response and Legislative Collaboration

Acknowledgment and Call for Swift Action:

Expressing gratitude for the support from lawmakers, Minister Nyesom Wike called for the swift passage of key bills related to various matters, including establishing the school of nursing and midwifery, the outdoor advertising bill, the HIV/AIDS control agency, and social health insurance.

Infrastructure Initiatives:

Represented by the Permanent Secretary of the FCT, Adesola Olusade, the Minister highlighted ongoing infrastructure initiatives, such as the construction of a 5-kilometer road in the area councils, aimed at decongesting the city center.

The budget anticipation reflects a collective commitment to propelling the FCT’s development agenda.

While commendations are extended for positive strides, concerns and strategic recommendations underline the nuanced challenges faced by the Minister in achieving holistic urban development.

The collaboration between the legislative and executive branches remains pivotal for realizing these ambitious plans.

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