N1.15 trillion Has Been Budgeted To Transform Rural Areas In Abuja (FCT)
Comment
According to the Minister of Federal Capital Territory (FCT), Mr. Nyesom Wike over N1.15 trillion FCT Statutory Budget for 2024, was created to transform both rural communities.
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When he appeared in Abuja on Monday to defend the proposed statutory budget, he clarified that N421.44 billion, or 36.7%, of the N1.15 trillion, was designated for recurrent expenses, and N726.3 billion, or 63.3%, was set aside for capital expenditures.
Additionally, he stated that the planned capital expenditure would go toward infrastructure development, with a focus on finishing up ongoing projects.
Wike continued by saying that of the N726.3 billion in capital expenditures that were planned, N29 billion was set aside for the Abuja Light Rail project and N80 billion was designated for SUKUK loan projects.
Additionally, the minister stated that N500 billion would be used for commercial loans to finish a few ongoing capital projects in the federal capital city and its outlying communities.
According to him, the remaining N117.3 billion will be used to finish up ongoing capital projects and other related projects that have counterpart funding and are intended to improve socioeconomic activities in the Federal Capital Territory.
According to Wike, the majority of the capital budget went to the Satellite Towns Development Department (STDD) and the Federal Capital Development Authority (FCDA).
According to him, N457 billion went to FCDA, N116 billion to STDD, and N153.3 billion to other Secretariat, Departments, and Agencies (SDAs).
He said this was to take care of important things like the ongoing building of roads, finishing up water treatment plants and related facilities, and a few new projects.
He clarified that N282 billion of the N457 billion allotted to FCDA was for ongoing projects, and the remaining N175 billion was for new, important projects. This money was intended to provide infrastructure inside and around the capital city.
The completion of Roads B6 and B12, as well as the building of an access road and parking lot for Abuja Light Rail, are among the crucial projects that the FCT Administration has been assigned to carry out in the 2024 statutory budget proposal.
Complete construction of Arterial Road N20 from Northern Parkway to the Outer Northern Expressway (ONEX), as well as the supply of engineering infrastructure to Wuye District and Guzape.
Additionally, there is the full-scope development of FCT Highway 105 (Kuje Road) from Airport Expressway to OSEX with Spur at Kyami District, as well as the extension of Inner Southern Expressway (ISEX) from Southern Parkway (S8/S9) to Ring Road II (RRII).
“Building of the Northern Parkway, which will run 6.2 kilometers from Ring Road II to Ring Road III, complete development of N5 and N20, and supply of engineering district infrastructure to Asokoro Island Layout in the Federal Capital Territory.”
To expedite the completion of the aforementioned eight major roads before the end of the 2024 fiscal year, a total of N198.5 billion has been set aside.
“Travel times and traffic jams on our roads inside and outside the city will eventually decrease as a result of these roads’ expansion and rehabilitation,” he stated.
The minister also stated that N69 billion had been given to the transportation sector, of which N32 billion had been allocated for the building of bus terminals in the Central Business District, Jahi, and Kugbo.
He claimed that the health sector received N45.7 billion and the education sector was proposed to receive N80.3 billion.
“The goal of the health budget is to finish building hospitals in the districts of Gwagwalada, Gwarimpa, and Utako to improve the capacity of some of our hospitals by purchasing new ambulances for eight FCTA hospitals,” the speaker stated.
Additionally, according to Wike, the FCT Agriculture and Rural Development sector was given a N7.9 billion budget to increase agricultural output and youth involvement in the field.
The minister claimed that by doing this, food security, income, and living standards in rural areas would all improve.
“We will make investments in the supply of agricultural inputs, including fertilizer, agrochemicals, and better seeds, among others.
“We plan to establish cluster farm centers in the sub-sectors of crop production and livestock,” he continued.
In addition, Wike stated that N5 billion had been given to the Social Development Secretariat to support youth, women, children, and other marginalized groups in the Federal Capital Territory.
Wike added that N1.2 billion was set aside for the Abuja Geographic Information System, while N5.6 billion went to the Legal Services Secretariat for legal services.
The minister went on to say that the Area Council Services Secretariat was to receive a budget of N4.2 billion to guarantee effective and efficient service delivery for rural transformation and raise the standard of living for residents.
To accomplish the FCT Administration’s developmental objectives, he stated, “The secretariat is also expected to strengthen the traditional institutions as effective tools for mobilizing people at the grassroots.”
The National Assembly fully supports the minister, as stated earlier by Ibrahim Bomai, the chairman of the Senate Committee, and Muktar Betara, the chairman of the House Committee on the Federal Capital Territory, who both praised the minister for the FCT’s development stride.
