Wike presents N1.1trn 2024 budget to Senate
The Minister of the Federal Capital Territory (FCT), Nyesome Wike is currently presenting the 2024 budget of N1.1 trillion before the Senate Committee on the FCT.
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The budget has N726.3 billion (63.28%) capital expenditure and recurrent expenditure of N421.4 billion (36.72%).
Highlights of the budget include the sum of N140,915,003,856.00 representing 12.28% proposed for personnel costs for the year 2024 compared to the sum of N99,535,703,531.00 in the year 2023.
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This shows an increase of the sum of N41,379,300,324.27.00 (29%), which he said the increase is to accommodate the emolument of the appointed Mandate Secretaries and other political appointees of the administration and payment of staff promotion arrears.