FCT 2024 Statutory Budget To Transform Abuja, Rural Areas – Wike
By: Hudu Yakubu, Abuja
The Minister of the Nigerian Federal Capital Territory (FCT), Mr Nyesom Wike, says the N1.15 trillion 2024 proposed FCT Statutory Budget was designed to transform the capital city and rural communities.
Wike stated this when he appeared before the Senate and House Committees on FCT to defend the proposed statutory budget, in Abuja.
The minister explained that of the amount, N421.44 billion was earmarked as recurrent expenditure, representing 36.7 per cent, while N726.3 billion was set aside for capital expenditure, representing 63.3 per cent.
He explained that the proposed capital expenditure would be dedicated for the development of infrastructure with emphasis on completion of on-going projects.
He added that out of the N726.3 billion proposed capital expenditure, N80 billion was allocated for SUKUK loan projects, while N29 billion was earmarked for Abuja Light Rail project.
The minister also said that N500 billion was for commercial loans for the completion of some ongoing capital projects in the federal capital city and satellite towns.
He said that the balance of N117.3 billion was dedicated to the completion of on-going capital projects and other counterpart funded related projects, aimed at enhancing socio-economic activities in the FCT.
Wike said that Federal Capital Development Authority (FCDA) and Satellite Towns Development Department (STDD) got the larger chunk of the capital budget.
He explained that FCDA got N457 billion, STDD N116 billion, while other Secretariat, Departments and Agencies (SDAs) got N153.3 billion.
This, according to him, is to address critical areas like on-going road construction, completion of water treatment plant and related facilities and few new projects.
He said that the N457 billion allocated to FCDA was for the provision of infrastructure within and around the capital city, of which N282 billion was for on-going projects, while N175 billion was for new critical projects.
“Some of the critical projects to be executed by the FCT Administration in the 2024 statutory budget proposal are the completion of Roads B6 and B12 and construction of access road and car park for Abuja Light Rail.
“Full scope development of Arterial Road N20 from Northern Parkway to Outer Northern Expressway (ONEX), provision of engineering infrastructure to Guzape, and provision of engineering infrastructure to Wuye District.
“There is also the extension of Inner Southern Expressway (ISEX) from Southern Parkway (S8/S9) to Ring Road II (RRII), full scope development of FCT Highway 105 (Kuje Road) from Airport Expressway to OSEX with Spur at Kyami District,
“Construction of Northern Parkway from Ring Road II to Ring Road III (6.2Km), full scope development of N5 and N20 and provision of engineering district infrastructure to Asokoro Island Layout in the FCT.
“The sum of N198.5 billion is earmarked for the above eight major roads to speed up their completion before the end of 2024 fiscal year.
“The expansion and rehabilitation of these roads will eventually reduce the travel time and traffic gridlock on our roads within and outside the city,” he said.
The minister added that the transportation sector got N69 billion, of which N32 billion was for the construction of Bus Terminals Development at Kugbo, Jahi and Central Business District.
He said that N80.3 billion was proposed for education sector, while the health sector got N45.7 billion.
“The health budget seeks to complete the construction of hospitals in Gwagwalada, Gwarimpa and Utako Districts to enhance the capacity of some of our hospitals through the procurement of modern ambulances for eight FCTA hospitals,” he said.
Wike also said that a total of N7.9 billion was proposed for FCT Agriculture and Rural Development sector to improve agricultural production and engagement of youths in agriculture,
This, the minister said, would enhance food security, income, and better standards of living in the rural communities.
Olusola Akintonde
