President Bola Tinubu has approved the Federal Capital Territory’s over 1.1 trillion naira statutory budget for the 2024 fiscal year.

The FCT minister, Nyesom Wike, confirmed this during a media chat at his office in Abuja.

He expressed delight over the assent by the president, and explained that the budget will impact on infrastructure development, healthcare facilities, as well as rehabilitation of schools in the FCT, amongst others.

The development comes on the heels of the FCT appropriation bill passing the second reading at the Senate last month.

A breakdown analysis of the 1.1 trillion naira budget, indicated that 280 billion naira was earmarked for overhead, 726 billion naira for capital projects, and 140 billion naira for personnel, bringing the total budget to 1.147 trillion naira.

Leading the debate, the sponsor of the bill and Senate Leader, Opeyemi Bamidele, said the appropriation bill took into cognizance the FCT administration’s revenue and expenditure forecasts which are in tandem with fiscal and developmental policies of the Federal Government.