President Bola Tinubu has approved N10 billion Youth Development Fund aimed at empowering youths in the Federal Capital Territory (FCT).
This was disclosed by the Minister of the FCT, Mr. Nyesom Wike, on Monday while inaugurating the upgrading of War College/Army Checkpoint Road and other ancillary roads in Ushafa, Bwari Area Council, Abuja.
The minister stated that the youth empowerment program, slated for inauguration on Thursday, is part of the federal government’s youth empowerment policy.
Empowerment Moves
The minister recalled that Tinubu created the Women Affairs Secretariat and the Youth Development Secretariat, and appointed a youth to head the youth secretariat.
He emphasized that the president is mindful of youth growth in the FCT.
Wike announced that the amount is part of the FCT’s supplementary budget, urging residents to support the Tinubu-led administration’s initiative.
“This has never happened in the history of the FCT. Additionally, Mr. President insisted that there must be a Youth Development Fund to help the youth grow.
“Mr. President has approved, for a start, N10 billion to see how the youth will be empowered. We are happy there are signs that things will get better,” he added.
What You Should Know
Nairametrics previously reported that Wike had sought the approval of the National Assembly to spend N61.6 billion from the 2023 supplementary budget on priority projects in the Federal Capital Territory.
The FCT minister made the request when he appeared before the Senate and House of Representatives Committees on FCT at the National Assembly complex in November 2023.
Wike noted that the supplementary budget was intended to accommodate additional inflows, including receipts from the Paris Club Refund, Pay As You Earn (PAYE) Tax Liabilities, and Special Intervention Funds.
The minister also mentioned Internally Generated Revenue (IGR) and the Infrastructure Support Fund as other additional inflows, leading to a revised budget of N641.3 billion compared to the N579.7 billion initially budgeted for the 2023 financial year.
In January this year, the minister disclosed that the Ministry of Finance provided N50 billion of the N100 billion supplementary budget to finance the continuation of capital projects within the FCT.
In March 2024, the Senate approved the 2024 Statutory Budget for the Federal Capital Territory (FCT), amounting to N1.282 trillion—an increase of N135 billion from the figure initially proposed by the Ministry of FCT.
This approval followed the review of the combined report from the Senate and House of Representatives Committees on FCT during the Tuesday plenary session.
Sen. Ibrahim Bomai, the Chairman of the Senate Committee on FCT, presented the report, noting the initial proposal of N1.15 trillion for the FCT’s 2024 budget.
Credit: Nairametrics
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