Senat Passes FCT, NDDC Budgets

The Senate on Tuesday passed the Federal Capital Territory (FCT) 2014

Appropriation Bill of N271 billion for the financial year commencing

from Jan. 1 to Dec. 31, 2014.

The News Agency of Nigeria (NAN) reports that the passage followed the

consideration of the report of the Senate FCT Committee on the FCT

Appropriation Bill 2014.

Sen. Domingo Obende, the committee’s Vice Chairman, who presented the

report, said the passage of the budget would enhance the development of

the territory for the benefit of its residents.

A breakdown of the budget shows that N161.8 billion was earmarked for

capital expenditure, N49.2 billion for personnel cost, while N60.37

billion was earmarked for overhead.

Highlights of the budget include the allocation of N31 billion for

transport sector, six billion naira for security, five billion naira for

education, amongst others.

In a related development, the Senate on Tuesday approved N322.6 billion

as 2014 Appropriation for the Niger Delta Development Commission (NDDC)

The Chairman, Senate Committee on Niger Delta, Sen. James Manager, said

the NDDC 2014 budget was based on a revenue projection of N322.6 billion

out of which N295.05 billion was for development projects.

The recurrent expenditure for the NDDC in 2014 was estimated at N25.27

billion, representing 7.83 per cent of the total revenue of N322.6

billion while non-project capital expenditure is N2.28 billion.

In 2013, the commission was allocated N286.45 billon for development

projects while recurrent expenditure was N26.97 billion.

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