Reps pass ₦2.2trn FCT 2026 Budget for Second Reading

By Gift Chapi Odekina, Abuja

The House of Representatives Nigeria on Thursday passed for second reading a bill seeking to authorise the withdrawal of over ₦2.2 trillion from the Statutory Revenue Fund of the Federal Capital Territory Administration for the 2026 financial year.

The bill, titled “A Bill for an Act to Authorise the Issue from the Federal Capital Territory Administration’s Statutory Revenue Fund the Total Sum of ₦2,201,098,676,153 for the Service of the Federal Capital Territory, Abuja, for the Financial Year Commencing January 1 and Ending December 31, 2026 and for Related Matters (HB.2729)”, was sponsored by the Leader of the House, Julius Ihonvbere.

A breakdown of the proposed budget shows that ₦165,775,220,839 is earmarked for personnel costs, while ₦378,231,411,697 is allocated for overhead expenses.

The largest portion of the budget, ₦1,657,092,043,617, is proposed for capital projects aimed at infrastructure development and improved service delivery within the Federal Capital Territory.

The bill seeks legislative approval for the funds to finance the operations and development programmes of the FCT Administration for the 2026 fiscal year.

Following deliberations, the House referred the bill to the relevant committee for further legislative action.

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