The Minister of the Federal Capital Territory, Barrister Ezenwo Nyesom Wike, has emphasized that the N1.28 trillion 2024 statutory budget for the FCT will bring about a revolution in infrastructure provision within the nation’s capital. During a media chat with journalists in Abuja, the Minister highlighted that this budget isn’t solely focused on roads; it also prioritizes healthcare, education, and the Abuja metro line, among other critical projects.
He said, “Frankly speaking, it is going to revolutionize infrastructure as far as the FCT is concerned. Not only road networks but also in health and education”.
According to the FCT Minister, 70 percent of the budget is allocated to capital expenditure. Within this capital component, 58 percent is earmarked for ongoing project completion, while 42 percent is dedicated to new projects.
The Minister identified several priority projects: Rehabilitation of 21 schools in deplorable conditions across the six Area Councils. Upgrading the Utako, Gwagwalada, and Gwarimpa General Hospitals to meet required standards.
On how to finance the budget; The Minister stated that, the FCT aims to finance this ambitious budget, which is the largest since its inception, through a strategic approach which involved withdrawal from the Treasury Single Account (TSA) which has allowed the Administration to source funds from the financial market using its IGR.
The FCT Minister promised that by the grace of God the budget will be very impactful to the residents of Abuja.
