FCT Area Councils share N2.2bn revenue, excess crude

Federal Capital Territory Area Councils Joint Account Allocation Committee JAAC has distributed 2.2 billion naira among the six area councils and other stakeholders in the FCT being revenue that accrued for the month of May 2013.

The amount represents an increase of N52 million over the N2,1 billion shared by the six area councils of Abaji, Abuja Municipal, Bwari, Gwagwalada, Kuje and Kwali for the month of April 2013.

The Chairman of FCT Area Councils JAAC and Honourable Minister of State for FCT, Oloye Olajumoke Akinjide, who confirmed this during the Committee’s meeting in Abuja, said Value Added Tax (VAT) accounted for the bulk of the revenue from the Federation Account.

She gave the breakdown of the allocation as: N1.059 billion from VAT, N821.59 million from Statutory Revenue Allocation, N250.35 million from Excess Crude, N56.77 million from Subsidy Reinvestment and Empowerment Programme (SURE-P) and N25.54 million being refund by the Nigerian National Petroleum Corporation.

The FCT Area Councils JAAC, according to the minister, transferred N905.89 million to the FCT Universal Basic Education Board (UBEB) for the payment of primary school teachers’ salaries in the six area councils.

The Auditor-General for FCT Area Councils, Fred Omaka, told the members of the Committee that biometric audit of all the workers in the area councils would take off on July 29, 2013.