By Dare Balogun, 20th May, 2024
President Bola Tinubu has officially written to the National Assembly, requesting a review of the Federal Capital Territory (FCT) budget.
According to Tinubu, the initial budget overlooked several critical projects essential for the development and functionality of the FCT.
In his communication to the legislative body, President Tinubu stressed the urgency of addressing the omissions to ensure that the capital city’s infrastructure and public services meet the growing needs of its residents.
“The President’s letter outlines the necessity for additional funding to cover these critical projects that were inadvertently left out of the initial budget,” an insider source revealed.
The request for a budget review aims to secure the necessary funds for these vital projects, which include improvements in transportation, healthcare, education, and other key areas that are pivotal to the FCT’s growth and sustainability.
President Tinubu had earlier approved for the FCT’s accounts to be removed from the Treasury Single Account, a public accounting system using a single account, or a set of linked accounts by the government to ensure all revenue receipts and payments are done through a Consolidated Revenue Account at the Central Bank of Nigeria.
The National Assembly is expected to deliberate on the President’s request in the coming days, assessing the proposed revisions to the FCT budget and making necessary amendments to facilitate the inclusion of the omitted projects.
