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Saturday, April 17, 2021

Minister presents N300b 2021 FCT budget estimates to lawmakers

The House of Representatives Tuesday received N299.9 billion estimates for 2021 fiscal year from the Federal Capital Territory Administration (FCTA).

Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello, who made the presentation, classified N215.9 billion out of the total figure as distributable revenue, while the balance of N84 billion was regarded as non-distributable revenue.

The FCT minister, who was represented by the Permanent Secretary, Federal Capital Territory Administration, Mr. Adesola Olusola, stated that the 2021 budget estimates represented an increase of over N100 billion from last year’s revised statutory appropriation for the FCT.

He added that the projected increment was due to increased revenue drive and expected revenue from the now functional FCT-IRS, introduction of remita platforms, engagement of revenue collection consultants, as well as the launch of Accelerated Area Council and Sectional Title Re-Issuance Scheme (AACTRIS).

He also disclosed that about N163b, representing 54.6 per cent of the estimates was proposed for capital expenditure, while the balance of 45.4 percent, comprising personnel and overhead costs was earmarked for recurrent expenditure.

According to him, when compared with the 2020 budget, there is an increase of N101 billion representing 34 per cent.

Chairman, House Committee on FCT, Hon. Abdullahi Garba (APC Niger), who received the estimates on behalf of the lower chamber, however adjourned sitting for a future date.

It could be recalled that, a week ago, the FCT minister presented the same budget estimates to the Senate Committee on the FCT who promised to work towards increasing the estimates due to the enormity of work in the nation’s capital.

Disclaimer: The Post Minister presents N300b 2021 FCT budget estimates to lawmakers was first Published by Abdullahi Muhammad on www.blueprint.ng.

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