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    FCTA disburses N2.7bn to Area Councils, stakeholders for May

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    Naija247newshttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Salisu Sani-Idris
    Abuja, July 1, 2021 The Federal Capital Territory Administration (FCTA) on Thursday disbursed N2,724,546,444.33 billion to the six Area Councils and other stakeholders as statutory allocation for May.
    The FCT Minister of State, Dr Ramatu Aliyu, who presided over the 154th Joint Account Allocation Committee (JAAC), meeting disclosed that there was decline of funds allocated compared to the month of April.
    She revealed that in April the sum of N4,035,289,643.20 billion was disbursed to the six area councils and other stakeholders, representing over 32.4 per cent drop for the month of May.
    The minister explained that the decline in the allocation was as a result of drop in the statutory revenue allocation from the Federation Account.
    According to her, the figures released indicate that the sum of N864,650,673.55 million was made available for distribution to the six area councils.
    “While the sum of N1,859,895,770.78 billion was made available to other stakeholders, bringing the total sum to N2,724,546,444.33 billion.
    “However, the distribution to area councils show that the Abuja Municipal Area Council (AMAC), received N202,639,822.02 million, while Gwagwalada got N192,741,834.09 million and Kuje received N124,540,530.97 million.
    “Similarly, Bwari Area Council received N94,908,257.47 million, Abaji got N137,990,711.51 million and Kwali received N111,829,517.49 million bringing the total sum to N864,650,673.55 million disbursed to the six area councils.”
    Aliyu added that distribution to other stakeholders include; Primary Teachers N1,498,321, 911.12 billion; 15 per cent Pension Funds took N226,478,989.57 million and One per cent Training Fund gulped N27,245,464.46 million.
    She said that 10 per cent Employer Pension Contribution also gulped N107,849,405.63 million, bringing the total sum to N1,859,895,770.78 billion.
    Aliyu said that there was no going back in the implementation of Minimum Wage to area councils staff, urging the councils chairmen to make sacrifice towards the health insurance policy of staff.
    She stressed the need for synergy of all revenue generation agencies with a view to scaling up the revenue base of the administration.

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