The Senate on Thursday approved the N2.285 trillion 2026 budget for the Federal Capital Territory Administration (FCTA), Abuja.

The approval followed the adoption of the harmonised report of the Senate and House of Representatives Committees on the FCT during plenary.

In the report presented by the Vice Chairman of the committee, Senator Austin Akobundu (Abia Central), a total of N1.741 trillion, representing 76 percent of the entire budget estimate, is earmarked for capital expenditure. At the same time, N165.7 billion is allocated to personnel expenditure, and N378.231 billion to overhead costs.

According to Akobundu, the N1.741 trillion earmarked for capital expenditure in the proposed budget represents 76.1 percent of the total budget estimate. In comparison, the combined personnel and overhead costs of N544.6 billion represent 23 percent of the budget.

The budget proposal, he added, focuses mainly on infrastructure development in the FCT and the provision of required utilities and facilities for residents across the six Area Councils.

Impressed by the proposal, the majority of senators who debated it urged the Senate to grant it expeditious passage.

The Senate, however, after the passage of the appropriation bill for third reading, requested the projected revenue profile for the fiscal year from the FCTA.

Residents of Umuahia have raised alarm over the rising cost of foodstuffs in local markets, describing the situation as increasingly unbearable for many households.

There is no doubt that the current economic downturn in Nigeria has significantly impacted market prices, particularly food items. While food products remain available, many residents say the major challenge is the lack of purchasing power due to widespread hardship.

Our correspondent, Jeremiah Chukwujindu who visited several markets in Umuahia, gathered reactions from both traders and consumers. Many decried the worsening economic conditions and called on government authorities to intervene urgently.

Some residents attributed the increase in food prices to the high cost of fuel and the closure of borders, which they say has reduced the inflow of goods. Traders, on their part, explained that after incurring high transportation and operational costs, they are compelled to increase prices in order to make a profit.

Respondents further appealed to both the federal and state governments to take immediate steps to ease the burden on citizens. They also urged traders and sellers of foodstuffs and other essential commodities to adopt measures that could help cushion the effects of the economic hardship.

Many residents emphasized that the current hardship is taking a severe toll on the nation, with families struggling daily to meet basic needs.

The Senator representing Abia Central Senatorial District, Sen. Austin Akobundu has reaffirmed his commitment to prioritising youth training and empowerment as a key component of his legislative agenda.

Speaking during an inspection visit at Kolpin Media and Events Centre the senator met with youths and women currently undergoing training in paint production and cosmetology programmes sponsored by him. He emphasised that he remains dedicated to nurturing entrepreneurs across different sectors through sustained skills acquisition initiatives.

Akobundu, who serves as Deputy Chairman of the Senate Committee on National Planning and Economic Affairs noted that empowerment programmes with lasting impact are those focused on practical skills. He assured participants that they would receive start up funds upon completion of their training to enable them establish their own businesses.

The senator expressed satisfaction with the progress recorded by beneficiaries of his previous empowerment programmes, noting that many are excelling in their respective fields. He urged current trainees to take the programme seriously and continuously improve their skills, expressing optimism that proper utilisation of the training would foster self-reliance.

In separate remarks on behalf of other participants and beneficiaries of the Empowerment, commended the senator for the initiative, describing it as timely given the country’s current economic realities.

They noted that the programme is gradually producing a new generation of entrepreneurs and prayed for continued success and strength for the lawmaker.