The House of Representatives passed a supplementary budget of N98.5 billion for the Federal Capital Territory (FCT) on Thursday, aimed at financing the 2024 statutory appropriation act.
The bill, sponsored by Aliyu Betera, Chairman of the House Committee on FCT, received swift approval after passing through second and third readings.
According to Betera, the supplementary budget is necessary to accommodate additional inflows from the FCT Internally Generated Revenue (IGR).
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He cited sections 62, 80, 88, 89, and 299 of the 1999 Constitution, which empower the House to approve such requests.
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The approval process followed a communication from President Bola Tinubu, read during plenary on May 16, seeking approval for the supplementary budget.
It was revealed that the House Committee on FCT met with the Minister and other relevant officials to discuss the bill before adopting the committee’s report.
The approved sum of N98.5 billion will be issued from the statutory revenue fund of the FCTA account to support the FCT’s 2024 budget.
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