The Federal Capital Development Administration has distributed N2.37billion to the six Area Councils as their share of money from the Federation Accounts Allocation Committee (FAAC).

According to the Minister of State for FCT, Mrs. Olajumoke Akinjide, the net revenue allocation of N1,280,775,901.74 was distributed to the six Area Councils, with Abuja Municipal receiving N322.75million; Bwari, N233.99million; Gwagwalada, N204.96million; Abaji, N186.23million; Kuje, N174.6million; and Kwali, N158.2million.

Also, N56.77million was shared as SURE-P funds, with Abaji getting N6.96 million, Abuja Municipal took home N16.77million; Bwari, N9.28 million; Gwagwalada, N8.50million; Kuje, N7.45 million, and Kwali, was given N7.79million.

The Federation Account Allocation Committee (FAAC) had disbursed a total of N2,372,382,097.82 to the six Area Councils in the FCT as allocation for the month of November 2012.

The allocation represents an increase of N160,914,908.96 or 7.3 percent over the N2,211,467,188.86 paid in October 2012 to the six Area Councils.

"Mrs. Akinjide, disclosed that the Subsidy Reinvestment and Empowerment Programme (SURE-P) allocation accounted for N56.77 million of the total revenue allocation received from the FAAC."

Mrs. Akinjide, disclosed that the Subsidy Reinvestment and Empowerment Programme (SURE-P) allocation accounted for N56.77 million of the total revenue allocation received from the FAAC.

The Minister who was represented by the Permanent Secretary, FCT, Mr. Anthony Ozodinobi, gave the breakdown of the revenue allocation received from FAAC as: N890.69million from Value Added Tax, N663.32million from Statutory Revenue Allocation, N368.68million from understated account in Central Bank of Nigeria, N275.35million, non-oil excess revenue and N23.10million from Nigerian National Petroleum Corporation refund.

The FAAC had in October 2012 allocated to the FCT Area Councils N1.001billion from the five percent VAT, N761.91million from Statutory Revenue Allocation, N228.48million from Special Revenue Allocation, N23.10million from refund by Nigerian National Petroleum Corporation and N56.77million being the SURE-P allocation.

N2.372billion available for distribution to the Area Councils, the FCT Joint Account Allocation Committee distributed N845.98million to the FCT Universal Basic Education Board (UBEB) for payment of the primary school teachers’ salaries in the six area councils; N95.04million to FCT Area Councils Pension Board (ACPB) being 15 percent pension fund as statutorily required, and N23.72million to FCT Area Councils Service Commission being one per cent training fund, also statutorily required.

On the 5th of December, FCT had N140.129million had withheld Area Councils Joint Account Allocation being the FCT Administration’s 10 per cent Internally Generated Revenue (IGR) pending when the Area Councils settle their accumulated debt.

The minister had explained that the JAAC’s decision to withhold the FCTA’s 10 percent IGR had become necessary to enable the Area Councils clear their outstanding debt of N247.08 million.

Presently, the Area Councils owe the FCT administration N144 million being Fadama III Counterpart Fund, N65.70 million for subsidised tractor sales under the public private partnership arrangement, N7.38 million for 2012 Buffer Stock Grains, and N30 million for biometrics.