FCT has allocated N29 billion to the ongoing rehabilitation of the Abuja Light Rail project, in the proposed FCT Statutory Budget of N1.15 trillion.
This figure, as disclosed by the Minister of Federal Capital Territory, Nyesom Wike, is part of the N726.3 billion earmarked for capital expenditure in the proposed statutory budget, according to nairametrics.
Wike revealed these details during his budget presentation to the Senate and House Committees on FCT in Abuja on Monday.
In addition, the Minister pointed out that N500 billion of commercial loans are part of the proposed capital expenditure in the budget to complete certain ongoing projects in Abuja apart from the allocation of 29 billion Naira for the Abuja Light Rail project.
Meanwhile, N80 billion is set aside for SUKUK loan projects, and N117.3 billion is budgeted for the completion of ongoing capital projects and other counterparty-funded related projects in the capital city.
The Federal Capital Territory Administration announced in August 2023 that a contract for the rehabilitation of Abuja Light Rail was awarded to China Civil Engineering Construction Company at an amount of N5 billion.
To mark the one year in office of President Bola Tinubu, the FCT Minister, Wike, has reiterated that the rehabilitation of the Abuja Light Rail will be completed in time and commissioned in May 2024.
Wike had earlier announced that when the Abuja Light Rail becomes operational, it would ease traffic congestion in the capital city.
