On Wednesday, the Senate took a significant step toward ensuring fiscal responsibility and transparency in Nigeria’s governance by approving the Federal Capital Territory ( FCT ) Statutory Appropriation Bill for 2025, the budget, which totals an impressive N1,814,073,708,392, underscores the National Assembly’s vital role in the nation’s budgeting process, which is pivotal for the effective governance and development of the country.
The approval of the budget followed a comprehensive examination of the report presented by the Senate Committee on the Federal Capital Territory (FCT) and FCT Area Councils and Ancillary Matters. Senator Bomai Ibrahim Mohammed of Yobe South presented the committee’s findings during the plenary session, guiding discussions and deliberations surrounding the budget’s allocations.
The approved budget allocates substantial financial resources across various sectors necessary for the functionality and service delivery within the FCT, Abuja. Specifically, N150,353,906,168 is earmarked for Personnel Costs, while N352,029,677,448 is designated for Overhead Costs. The largest allocation, amounting to N1,311,690,124,776, is directed toward Capital Projects, which are crucial for infrastructure development and other key initiatives aimed at enhancing the living standards and services in the capital.
Effective budgeting is not merely an administrative necessity; it is crucial for the growth and sustainability of Nigeria as a whole. By ensuring that resources are allocated to areas where they are most needed, the National Assembly plays a formidable role in steering the nation toward progress. This approval is particularly significant, as it not only pertains to the financial year starting on January 1 and ending on December 31, 2025, but also reflects the Senate’s commitment to addressing critical needs within the Federal Capital Territory.
By passing this budget, the Senate is reinforcing its dedication to the well-being of Abuja and contributing to broader national development efforts. Such fiscal initiatives are fundamental to creating a more stable and prosperous Nigeria, demonstrating the continuous need for legislative oversight in the management of public funds.