Wike Dedicates 1.5 Trillion Naira to Develop FCT and Rural Communities 

According to Nyesom Wike, Minister of the Federal Capital Territory (FCT), the proposed ₦1.15 trillion FCT Statutory Budget for 2024 was created with the intention of transforming both rural communities and the nation’s capital.

When Wike appeared in Abuja on Monday to defend the proposed statutory budget, he said a great deal before the Senate and House Committees on the Federal Capital Territory.

He clarified that ₦421.44 billion, or 36.7%, of the ₦1.15 trillion was allocated for ongoing expenses, and ₦726.3 billion, or 63.3%, was designated for capital expenditures.

Additionally, he clarified that the planned capital expenditure would go towards infrastructure development, with a focus on finishing up ongoing projects.

Wike added that out of the ₦726.3 billion proposed capital expenditure, ₦80 billion was allocated for SUKUK loan projects, while ₦29 billion was earmarked for the Abuja Light Rail project.

The minister also said that ₦500 billion was for commercial loans for the completion of some ongoing capital projects in the federal capital city and satellite towns.

He said that the balance of ₦117.3 billion was dedicated to the completion of ongoing capital projects and other counterpart-funded related projects, aimed at enhancing socio-economic activities in the FCT.

Wike said that the Federal Capital Development Authority (FCDA) and Satellite Towns Development Department (STDD) got the larger chunk of the capital budget.

He said that FCDA got ₦457 billion and STDD got ₦116 billion, while other Secretariats, Departments and Agencies (SDAs) got ₦153.3 billion. This, according to him, is to address critical areas like ongoing road construction, the completion of the water treatment plant and related facilities, and a few new projects.

“Some of the critical projects to be executed by the FCT Administration in the 2024 statutory budget proposal are the completion of Roads B6 and B12 and the construction of an access road and car park for Abuja Light Rail.

“Full scope development of Arterial Road ₦20 from Northern Parkway to Outer Northern Expressway (ONEX), provision of engineering infrastructure to Guzape, and provision of engineering infrastructure to Wuye District.

“There is also the extension of Inner Southern Expressway (ISEX) from Southern Parkway (S8/S9) to Ring Road II (RRII), full-scope development of FCT Highway 105 (Kuje Road) from Airport Expressway to OSEX with Spur at Kyami District,

“Construction of the Northern Parkway from Ring Road II to Ring Road III (6.2 km), full scope development of ₦5 and ₦20, and provision of engineering district infrastructure to Asokoro Island Layout in the FCT.

“The sum of ₦198.5 billion is earmarked for the above eight major roads to speed up their completion before the end of the 2024 fiscal year.

“The expansion and rehabilitation of these roads will eventually reduce the travel time and traffic gridlock on our roads within and outside the city,” he added.

The minister went on to say that the Area Council Services Secretariat was to receive 4.2 billion in order to guarantee efficient and successful service delivery for rural transformation and raise the standard of living for residents.

“The FCT Administration’s developmental goals can be achieved by mobilising people at the grassroots level through the strengthening of traditional institutions by the secretariat,” he said.

Ahead of time, the National Assembly offered the minister its unwavering support, as stated by Ibrahim Bomai, the chairman of the Senate Committee on the Federalist Territory, and Muktar Betara, the chairman of the House Committee on the Federalist Territory.