The Chairman of Abuja Municipal Area Council (AMAC), Abdullahi Adamu Candido, has presented a budget of N6.921, 263, 402 million to the council’s legislative council.
Candido who tagged the budget, “Budget of reality and consolidation,” envisaged that it would address the growing needs of the communities and build on the solid foundation already laid for accelerated grassroots development.
“It is a product of painstaking efforts of relevant stakeholders who have the masses and progress of the council at heart. It therefore captures the heart of the people,” he said.
He said since the ban on the collection of tenement rate has been lifted by the National Assembly, the budget is expected to make more positive impact and deliver on campaign promises.
Recurrent expenditure covers 45.77 per cent while capital expenditure accounts for 54.23 per cent of the budget.
He said 3.99 per cent of the capital expenditure will be used for debt servicing.
“The administration inherited backlog of debts owed to contractors by previous administration. We have begun payment of some of the contracts so that projects may be completed while we are reconciling the liabilities of others to identify and settle legitimate claims,” he said.
Bulk of the funding will come from the statutory allocation from Federal Government (N3,821,263,402) while 10 per cent internally generated revenue from the Federal Capital Territory (N600,000,000) and the council internally generated revenue (N2,500,000) will also be used.
In his remarks the council’s deputy speaker, Haruna Musa Saidu, said the legislative members would “look into the budget and do justice to it.”
The budget represents a nominal increase of 11.76 per cent from last year’s budget.