Being funds for operations in the month of July | By Iferi Etuk
The Federal Capital Territory Administration (FCTA), on Wednesday, said it has disbursed N1.786 billion to its six area councils being part of the monthly federal allocations received for month of July.
Part of the funds also came from the Subsidy Reinvestment and Empowerment Programme (SURE-P) set up by the federal government in the aftermath of the partial removal of fuel subsidy in January.
Another $1,597,048.73 from the Excess Crude Proceed Account is also expected to be shared amongst the councils.
Minister of State for FCT and Chairperson of FCT Area Councils Joint Account Allocation Committee (JAAC), Olajumoke Akinjide, confirmed the disbursement.
The minister said N1.576 billion was received as federal allocation for July while N170.32 million was received as the area councils? share of the subsidy fund for the period May, June and July 2012.
Another N39.904 million, being 10 per cent of the FCTA?s internally generated revenue (IGR) for August 2012, was also shared.
The FCT administration said out of the sum, it 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 N687.50 million was disbursed to the area councils, with Abuja Municipal Area Council (AMAC) receiving the lion?s share of N135.02 million.
According to the minister, the sum of N125.75 million was distributed to Gwagwalada Area Council, N123.51 million to Bwari Area Council, N102.86 million to Abaji Area Council, N101.10 million to Kwali Area Council, and N99.23 million to Kuje Area Council.
Akinjide advised the area council chairmen to invest the subsidy money in a dedicated account and apply the funds for wealth creation and infrastructure development in their area councils.