Reps Decry FCT’s N30.4b National Budget as Insufficient **Says Abuja project under threat by poor federal funding Members of the House of Representatives Committee on the Federal Capital Territory (FCT) on Tuesday frowned at the paltry N30.4billion national priority budget ceiling for 2014 given to FCT by the Budget Office of the Federation as grossly insufficient. On the occasion of FCT Minister, Senator Bala Abdulkadir’s presentation of the FCT 2014 national budget at the National Assembly Complex, the lawmakers warned that unless there was improved funding of critical infrastructure and social services in the federal capital, Abuja may end up as a recreation of a congested and ill-planned Lagos. The FCT Minister had told the panel members chaired by Hon. Emmanuel Jimeh (Benue) that the present envelope of N30.4billion handed the FCT for 2014 was a far cry to fund the 17 National Priority Projects (NPP) that require the sum of N470.3billion to be rolled off. He said the implication of this ceiling is that these projects would either be underfunded or abandoned. In the face of the grin funding reality, FCT might have to brace up for litigation by the affected companies, some of which are multi-nationals, he hinted. The Minister nevertheless gave a glimmer of hope by disclosing that the FCT Administration on its part was working painstakingly to harness other avenues to fulfill its strategic role of building a befitting Federal Capital City that would be a source of pride for Nigerians both at home and in the Diaspora. Among the alternative sources of funding are the Sovereign Wealth Fund and the SURE-P. An estimated N23billion is expected to be sourced through the latter. Mohammed also stated that the FCTA would intensify its collaboration with the private sector for infrastructure development through public private partnership (PPP). He appreciated the lawmakers’ support and cooperation with the FCTA towards fulfilling its mandate of providing the required the required infrastructure to the residents of the FCT pursuant to the Administration’s mandate of delivering a first class city that would be comparable to the best in the world. While reviewing the performance of the 2013 FCT National Priority Budget, the Minister said that the sum of N57billion was appropriated for the FCT National Budget that year. “To date FCT has received 1st, 2nd, 3rd and 4th quarter warrants bringing the total amount released to date to N32,954,483,703.49, leaving an unreleased balance to date of N24,045,516,294.51,” he disclosed. The release gives a budget performance of 58% while the expenditure against the actual released sum gives 100% performance. NOSIKE OGBUENYI SA Media to the Hon. Minister of FCT Wednesday 5th March, 2014.
Posted on: Fri, 07 Mar 2014 06:10:51 +0000
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