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FCT AREA COUNCILS GET N2B ALLOCATION FOR JANUARY

By NBF News
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The six area councils of the Federal Capital Territory (FCT) have received N2.99 billion allocation from the federation account, being their share of the revenue for the month of January, 2013.

Of the amount, a net revenue allocation of N1.113 billion was distributed to the six councils, with Abuja Municipal Area Council (AMAC) receiving the lion share of N242.75 million representing an increase from the sum of N137.48 million received in December 2012.

Bwari area council got N198.28, Gwagwalada, N190.38 million, Kuje N167.92 million, Abaji,N157.94 million and Kwali N155.29 million.

Bwari, Gwagwalada, Kuje, Abaji and Kwali had received net revenue allocation of N120.75 million, N137.52 million, N99.26 million, N103.23 million, and N85.17 million, respectively in December 2012.

Chairperson of the committee and Minister of State for the FCT, Oloye Olajumoke Akinjide, who is also the chairperson of the FCT Joint Account Allocation Committee (JAAC), disclosed this yesterday at the JAAC meeting.

Giving a breakdown of the amount, Akinjide who was represented by the secretary, Area Council Services Secretariat (ACSS), Barrister Yahaya Alhassan Gwagwa, disclosed that five per cent Value Added Tax (VAT) accounted for N1.007 billion (about 48 per cent) of the total revenue allocation, representing an increase of N189.96 million over the N817.04 million received for VAT for the month of December 2012.

She said the area councils also received N754.45 million from statutory revenue allocation, N251.90 million from distribution of excess crude proceeds, N56.77 million from Subsidy Reinvestment and Empowerment Programme (SURE-P), N23.10 million from the Nigerian National Petroleum Corporation's refund, and N5.66 million being differential between budget and actual.

'Of the N2.009 billion available for distribution, the JAAC transferred N869.43 million to the FCT Universal Basic Education Board (UBEB) for payment of the primary school teachers' salaries in the area councils; N95.04 million to FCT Area Councils Pension Board (ACPB) being 15 per cent pension fund as statutorily required, and N20.99 million to FCT Area Councils Service Commission being one per cent training fund.

'On SURE-P funds, Abuja Municipal received N16.77 million, Bwari (N9.28 million), Gwagwalada (N8.50 million), Kwali (N7.79 million), Kuje (N7.45 million) and Abaji (N6.96 million),' Akinjide added.