Senators Ireti, Bomai, Okay Wike’s N1.7trn Budget Defence

Minister of the Federal Capital Territory (FCT), Dr. Nyesom Wike, has presented and defended the N1.78 trillion FCT 2025 Statutory Budget proposal before members of the National Assembly.

During the budget defence in Abuja, Wike who clearly outlined and defined the N1.78 trillion spending plan aimed at infrastructure expansion, social development, and economic revitalization, received accolades from the lawmakers for his administrative foresight and infrastructural strides since assuming office.

Wike reiterated his commitment to continue executing people-oriented projects aimed at improving healthcare, security, education, a functional transportation system, and the completion of abandoned projects.

The Senator representing FCT, Ireti Kingibe, for the first time, joined her voice with those of other lawmakers to shower uncommon accolades on the Minister of FCT for his notable and exceptional performance and called for the speedy passage of the budget as presented.

> “I asked my colleagues to pass the budget as presented, but I also think that some issues should be discussed with the Minister in camera,” Ireti declared.

The Chairman of the Senate Committee on FCT, Ibrahim Mohammed Bomai, described the FCT budget as one of the best presentations of the year.

> “I want to commend the Honourable Minister for the wonderful presentation. I am really impressed about the Revenue Physical Framework. This is the first time FCT is proposing 1.7 trillion budget.

“And out of the 1.7 trillion, 1.3 trillion is distributable revenue.
What FCT is presenting is one of the best budgets so far. I would like also to note that the IGR proposed by FCT has greatly improved. The FCT is proposing 608 billion just IGR,” Bomai noted.

On his part, the former Edo State Governor, Senator Adams Oshiomhole, rated Wike’s performance as outstanding and life-transforming, particularly in rural development and reduction in overhead costs.

> “Most Nigerians have argued that we spend too much money on overhead and very little money available for public good, which is infrastructure. And how you (Wike) do it, is something personal to you, but it is worthy of note and commendable.

“I am also excited, sir, that you are focusing on the rural part of Abuja, those specific policies designed to bring life to rural FCT is the most potent statement to decongest the city, carrying development to the people where they are,” Oshiomhole stated.

Earlier, Wike noted that the budget was prepared in alignment with the Federal Government’s 2025 Budget parameters, the Medium-Term Expenditure Framework (MTEF), and International Public Sector Accounting Standards (IPSAS).

Wike disclosed that the proposed budget comprises N1.39 trillion in Distributable Revenue and N391.2 billion in Non-Distributable Revenue, the latter tied to specific projects such as the China Exim Bank loan for the Abuja Light Rail and UBEB Counterpart Funding.

He noted that the budget framework is based on federal assumptions, including an exchange rate of N1,400/USD, an oil benchmark of $78.1 per barrel, and projected GDP growth of 4.6%.

Enumerating key achievements within the 2024 budget, Wike said about 70 schools in the FCT and other capital-intensive infrastructure like the International Conference Centre have been renovated and upgraded, with several road projects completed.

On sectoral priorities, Dr. Wike announced that N383.5 billion, has been earmarked for the completion of 14 major road projects.

Some of the roads include key arterial roads such as B6, B12, N20, and N1, as well as expressway extensions and upgrades in Guzape, Wuye, Maitama II, and Kyami Districts.

On Transportation, the FCT Minister said the sector will receive N79.3 billion, with N25 billion designated for the procurement of rolling stock and infrastructure for the Abuja Light Rail Project, and N24 billion for the construction of modern bus terminals at Kugbo, Jahi, and the Central Business District.

Wike said the Education Sector is allocated N181 billion, of which N120 billion is for capital projects, including N8 billion as UBEB Counterpart Funding, while the Health Sector gets N54 billion, with a focus on hospital upgrades and modern equipment procurement.

On Water, Wike earmarked N37.4 billion for the Water Sector to fast-track the Greater Abuja Water Project, including counterpart funding and the implementation of prepaid metering.

The Environmental Sector is allocated N22.9 billion for city cleaning and sewage maintenance, while the Agricultural Sector receives N8.3 billion to boost food production, youth engagement, and rural livelihoods.

On Social Development and other services to promote inclusive growth, Wike said N23.7 billion has been earmarked for social development, targeting gender, youth, culture, and sports.

The Legal Services Secretariat will receive N7.7 billion, and the Land Administration Department will get N1.5 billion to enhance land management and revenue generation.

The Area Council Services Secretariat is proposed to receive N3.1 billion to oversee rural development and grassroots mobilization.

The FCT Minister therefore appreciated the lawmakers for their consistent support in granting approval for the FCTA to execute projects and pleaded for their continued support to enable the FCTA to deliver more robust dividends of the Renewed Hope Agenda.

Remi Johnson, Edited By Grace Namiji