The Minister of the Federal Capital Territory (FCT), Nyesom Wike, appeared before the Senate and House of Representatives Committees on FCT seeking approval to utilize N61.6 billion from the 2023 supplementary budget.
His appeal at the National Assembly complex in Abuja aimed to accommodate additional funds, including receipts from Paris Club Refund, Pay As You Earn (PAYE) Tax Liabilities, Special Intervention Funds, Internally Generated Revenue (IGR), and the Infrastructure Support Fund. This proposed adjustment would revise the budget from its initial N579.7 billion to N641.3 billion for the 2023 financial year.
Wike clarified that these funds, if approved, would be directed toward completing crucial infrastructure projects. Completion of these projects is expected to enhance transportation, create employment opportunities, and generate positive impacts on citizens across the board.
To ensure completion, Wike proposed a funding strategy that involves consistent monthly payments to contractors, following mobilization payments, and the use of Irrevocable Standing Payment Orders (ISPO) against the FCT Administration’s IGR for remaining balances.
Regrettably, some prioritized projects lacked adequate provisions or were entirely unallocated in the FCT 2023 Statutory Appropriation.
Breaking down the supplementary budget, Wike detailed that N25.8 billion was from the Paris Club Refund, N14.3 billion as a refund for Integrated Payroll and Personnel Information System/PAYE tax liabilities, N5 billion as a special intervention fund, N9.4 billion from IGR, and N7 billion from the infrastructure support fund, totaling N61.6 billion.
He highlighted key projects, such as road resurfacing, remedial works, and the completion of various roads in Abuja Central Area, including arterial and parkway developments. The allocated funds would also contribute to the rehabilitation, expansion, and construction of expressways, interchanges, access roads, and public facilities like the Vice President’s residence, cultural centers, and religious centers.
Wike assured that these projects aimed for completion before May 29, 2024, intending to showcase them among the achievements of President Bola Tinubu’s one year in office.