Wike Appeals to National Assembly for Nod to Allocate N61.6 Billion to Key Projects

Wike Appeals to National Assembly for Nod to Allocate N61.6 Billion to Key Projects

The Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, has appealed to the National Assembly for approval to allocate the sum of N61.6 billion from the 2023 supplementary budget to key projects within the federal capital territory. This request was made during his appearance before the Senate and House of Representatives Committees on FCT at the National Assembly complex in Abuja on Wednesday.

Wike clarified that the supplementary budget aimed to incorporate additional funds, such as those from the Paris Club Refund, Pay As You Earn (PAYE) Tax Liabilities, and Special Intervention Funds. He also mentioned the inclusion of Internally Generated Revenue (IGR) and the Infrastructure Support Fund, resulting in a revised budget of N641.3 billion, compared to the initial N579.7 billion allocated for the 2023 financial year.

To ensure the completion of prioritized projects and programs, Wike outlined a funding strategy that involves monthly payments to contractors following mobilization payments. Remaining balances would be settled through the issuance of Irrevocable Standing Payment Order (ISPO) against the IGR of the FCT Administration.

Wike lamented the inadequacy or absence of provisions for some priority projects in the FCT 2023 Statutory Appropriation, highlighting the necessity of additional funding. He underscored the potential positive outcomes of these projects, emphasizing their role in improving transportation, generating employment opportunities, and positively impacting the overall welfare of citizens.


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