FCT Area Councils Share N1.78b Revenue, SURE-P Allocations… $1.59m Excess Crude Proceeds Expected Soon

By Ewache  Ajefu

The Federal Capital Territory Administration (FCTA) on Wednesday shared the sum of 1.786 billion among its six Area Councils being funds received from the Account Allocation Committee and the Subsidy Reinvestment and Empowerment Programme (SURE-P).

The six FCT Area Councils are also expected to share $1,597,048.73 from the Excess Crude Proceeds Account. Minister of State for FCT and Chairperson of FCT Area Councils Joint Account Allocation Committee (JAAC), Oloye Olajumoke Akinjide, confirmed this in Abuja during the Committee’s meeting attended by the chairmen of the Area Councils – Abaji, Abuja Municipal, Bwari, Gwagwalada, Kuje and Kwali.

Akinjide disclosed that the sum of 1.576 billion revenue allocation was received from month of July 2012 FCT Area Councils while 170.32 million was received from the Federal Ministry of as the Area Councils’ share of the SURE-P programme period May, June and July 2012.

The six area councils of the FCT also shared 39.904 million being 10 cent of the FCTA’s Internally Generated Revenue (IGR) for August 2012 bringing the total revenue allocation to N1.616 billion.

Of the N1.616 billion revenue allocation, the FCTA disbursed N817.41 million to the FCT Universal Basic Education Board (UBEB) for primary school teachers in the six area councils; N95.04 million to FCT Area Councils Pension Board (ACPB) being 15 cent pension fund as statutorily required, and N16.16 million to FCT Area Councils Service Commission being one cent training fund, also statutorily required.

The balance of the revenue allocation of N687.50 million was disbursed to the Area Councils, with Abuja Municipal Area Council (AMAC) receiving the lion’s share of N135.02 million.

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