The FCT Administration has proposed the sum of N137 billion as capital expenditure for the Satellite Town Development Department in the 2025 budget.
FCT Minister, Nyesom Wike stated in his address while presenting the FCT 2025 statutory budget proposal to the House Committee on FCT, chaired by Hon Ibrahim Bomai.
The FCT capital budget estimates for 2025 is N1,289,690,124,776, representing 72.30 per cent for the development of infrastructure, with emphasis on completion of on-going projects.
The proposal indicated 11 per cent increase over the 2024 Revised Appropriation of the sum of N1,162,986,332,759.00.
According to Wike, out of the proposed capital expenditure, other Secretariats, Departments and Agencies (SDAs) were allocated the balance sum of N351.2 billion for their capital expenditure as well as few new projects.
He said the sum of N80 billion for SUKUK loan projects, N25 billion for Abuja Light Rail Project rolling stock and provisions for other phases, N15 billion for Abuja Greater Water Supply and the sum of N250 billion for commercial loans planned to complete some ongoing capital projects in FCC and Satellite Towns while the balance sum of N919,690,124,776.00 is dedicated to the completion of the on-going capital projects and other counterpart funded related projects, aimed at enhancing socio-economic activities of the FCT.
The Federal Capital Development Authority (FCDA) is allocated the sum of N801.5 billion for its capital project.
The transportation sector has a provision of the sum of N79.3 billion with N27 billion out of the sum proposed for recurrent expenditure 2025 fiscal year and the sum of N52.3 billion is proposed for capital budget for the year 2025.
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