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The House of Representatives Committee on FCT has received N299.9 billion estimates for 2021 fiscal year from the Federal Capital Territory Administration (FCTA).
The 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.
The Chairman House Committee on FCT, Hon. Abdullahi Garba (APC Niger), after he receiving the estimates on behalf of the green chamber adjourned the sitting for a future date.