By Inalegwu Shaibu
ABUJAâ€”THE SenateÂ has approved the sum of N350.3 billion for the Federal Capital Territory Administration, FCTA, in the 2010 fiscal year.
The approval was upon the third reading of the report on the FCT 2010 appropriation bill submitted by the Senate Committee on FCT.
Chairman of the Committee, Senator Abubakar Sodangi who presented the report to the Senate yesterday said the 2010 budget seeks to provide funds to fast track developments in the FCT.
Senator Sodangi observed that paucity of funds has contributed to inefficient service delivery and the collapse of public schools and hospitals in the FCT.
He said the proposal of spending over N200 billion in the 2010 appropriation will address the problems of infrastructural decay and poor services in the FCT.
He said, â€œThe fundamental concept of the budget is to set the capital city and its environs on a firm and progressive path of growth, creating an enabling environment for residents to create wealth and enjoy his/her fundamental freedom and entrepreneurship and provide counterpart funding from China for the construction of light rail and realising the Millennium Development Goals, MDGs.”
The breakdown of the budget shows that, the sum of N38, 260,514,722 billion was earmarked for personnel cost. Overhead cost got the sum of N33, 095,196,447 billion while the sum of N278, 969,082,461 has been earmarked for capital projects for the service of the Federal Capital Territory, Abuja