By Ewache Ajefu
The Federal Capital Territory Administration (FCTA) on Wednesday shared the sum of N1.786 billion among its six Area Councils being funds received from the Federation 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 N1.576 billion revenue allocation was received from FAAC for the month of July 2012 for the FCT Area Councils while N170.32 million was received from the Federal Ministry of Finance as the Area Councils’ share of the SURE-P programme for the period May, June and July 2012.
The six area councils of the FCT also shared N39.904 million being 10 per 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 per cent pension fund as statutorily required, and N16.16 million to FCT Area Councils Service Commission being one per 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.No tags for this post.