President Bola Tinubu has submitted an additional Supplementary Budget Proposal for the 2024 Statutory Appropriation of the Federal Capital Territory Administration (FCTA) to the House of Representatives. The request, dated September 19, 2024, aligns with the FCTA's updated revenue and expenditure forecasts under the framework of the Renewed Hope Agenda.
The letter, read by Speaker Tajudeen Abbas during Tuesday's plenary, explained that the proposal is in accordance with Section 121 of the Nigerian Constitution. While the specific amount was not disclosed, the supplementary budget aims to support the federal government’s fiscal and developmental goals, with a focus on human capital and infrastructure development in the Federal Capital Territory.
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Tinubu expressed confidence that the House would expedite the approval of the proposal. He underscored the importance of the supplementary budget in advancing key priorities within the FCTA, including infrastructural improvements.
Following the reading of the proposal, the House adjourned its proceedings in honor of Senator Ifeanyi Ubah, who passed away during the National Assembly recess. Further discussions on the budget will continue in the next session.
