Introduction to FCT’s Budget Implementation
The Federal Capital Territory Administration has recorded a landmark 95 percent implementation of its 2024 statutory budget, marking an unprecedented milestone in the fiscal performance of the FCT. FCT Minister, Nyesom Wike, announced the achievement on Monday after an inspection tour of several major infrastructure projects.
Inspection Tour and Project Progress
The minister inspected road constructions in Life Camp and Katampe districts, as well as the ongoing renovation of the International Conference Centre, ICC. Addressing journalists after the site tour, the minister highlighted the significance of this achievement, saying, “I can tell you we’ve done not less than 95 percent of the budget implementation. That is historic. It has never happened before. And if you look at the projects there, you will see that there is no project that is in the 2024 budget that we have not touched.
Factors Contributing to Budget Performance
He credited the budget performance to the National Assembly’s extension of the FCT’s 2024 statutory budget until June 2025, which he said provided the administration with the financial flexibility to fund critical projects and maintain progress across key sites.
Notable Projects
Among the projects inspected was the 4-kilometer, six-lane dual carriageway connecting Life Camp Junction to Ring Road III, being executed by Julius Berger. The road is expected to significantly improve connectivity among several high-density districts, including Kado, Karmo, Gwarinpa I, Dape, Ido-Gwari, Saburi, and Dei-Dei. Also nearing completion is the access road from the Nnamdi Azikiwe Expressway (by N16) to Judges Quarters in Katampe District. The road will serve as a vital link to Jahi, Katampe, and Maitama districts, easing travel and reducing traffic congestion in the area.
International Conference Centre Renovation
At the International Conference Centre, Wike expressed satisfaction with the ongoing transformation, describing the pace of work as impressive and in line with project timelines. “These projects will be inaugurated by Mr. President during his second-year anniversary celebrations. We have gone to the International Conference Centre, which is almost ready. The first phase of the N5 will also be ready by the end of May,” the Minister stated.
Future Plans and Budget Approval
Wike also disclosed that the FCT’s 2025 statutory budget has been submitted to the National Assembly, expressing hope for its prompt approval to sustain the current momentum of development. The projects are among several expected to be commissioned in May 2025 to commemorate President Bola Tinubu’s second year in office.
Conclusion
The FCT Administration’s achievement of a 95 percent implementation of its 2024 statutory budget is a significant milestone, demonstrating the administration’s commitment to delivering on its promises. With the submission of the 2025 statutory budget to the National Assembly, the administration is poised to continue its developmental strides, improving the lives of residents and transforming the capital territory.
FAQs
- Q: What is the percentage of the FCT’s 2024 statutory budget that has been implemented?
A: 95 percent. - Q: What contributed to the FCT’s budget performance?
A: The National Assembly’s extension of the FCT’s 2024 statutory budget until June 2025. - Q: What notable projects are nearing completion?
A: The 4-kilometer, six-lane dual carriageway connecting Life Camp Junction to Ring Road III and the access road from the Nnamdi Azikiwe Expressway to Judges Quarters in Katampe District. - Q: When are the projects expected to be inaugurated?
A: During President Bola Tinubu’s second-year anniversary celebrations in May 2025.
Source: theabujainquirer.com
