FCT presents 2021 budget proposal
The minister of the federal capital territory (FCT) administration, Muhammad Bello says the Chinese Exim Bank loan required for the funding of the Abuja light rail project has been activated for the completion of the ongoing rail project.
The minister said this while presenting the 2021 statutory Budget proposal of Two hundred and ninety nine point nine billion naira before the senate committee on the Federal capital territory in Abuja.
The minister of the federal capital territory and top officials of the administration met with the senate committee of the federal capital territory on Tuesday to present the 2021 statutory budget proposal.
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The budget sum of two hundred and ninety nine point nine billion naira is being proposed for 2021 which is a 34% increase compared to the 2020 budget of One hundred and ninety nine point two billion naira.
The total recurrent expenditure for 2021 is pegged at one hundred and thirty six point three billion naira while capital Expenditure will gulp one hundred and sixty three point six billion naira out of which seventy eight point seven billion naira will be dedicated for the completion of the Abuja light rail project.
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The Chairman senate committee on FCT Abubakar Kyari commended the FCT administration for its intention to complete the Abuja light rail project however when the senate committee Chairman demanded for a completion date the FCT Minister explained that he could not commit to a particular date for the completion of the project.
Other members of the senate committee tasked the FCT Minister and his team to do more in the aspect of revenue generation.
