FCT Area Councils Share N2.07bn June Allocation

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fct area councilsFCT Joint Account Allocation Committee (JAAC) met Tuesday and

shared the sum of N2,076,826,375.10 to the six Area Councils of

the Federal Capital Territory being monies accruing to them from the
Federation Account.
The FCT Minister, Muhammad Bello, who made this disclosure
on Friday in his office said that the meeting was sequel to the
earlier meeting held by the Federation Account Allocation Committee on
20th – 21st July 2016.
According to him, the sum comprises Statutory Revenue Allocation of
N693,573,662.37; Value Added Tax of N1,225,698,970.67, and Exchange
Rate Gains (June) of N141,394,993.28; Share of Solid Minerals Revenue
of N16,158,748.78 totalling N2,076,826,375.10.
Malam Bello revealed that Abuja Municipal Area Council received the
highest share of N483,398,486.25; followed by Bwari Area Council that
got N346,279,184.91.
Others are Gwagwalada Area Council with N322,556,405.52; Kuje Area
Council got N313,546,166.14; Kwali Area Council received
N316,305,794.87 and Abaji Area Council which received the lowest share
of N294,740,337.19 for the month of June 2016.
The Minister disclosed that statutory deductions were however made in
accordance with the Fund Allocation Monitoring Act payment of the
Primary School Teachers Salaries, 15% Pension Fund, 1% Training Fund
as well as 7.5% Employer Pension Contribution.
He further disclosed that after all the statutory deductions, Abaji
Council had net allocation of N134,509,460.25; AMAC received
N172,972,985.46; Bwari received N137,625,620.69; while Gwagwalada,
Kuje and Kwali received N163,545,302.29, N137,864,095.91 and
N141,670,287.82 respectively totalling N888,187,752.42.
The FCT Permanent Secretary, Dr. Babatope Ajakaiye, chaired the JAAC
meeting on behalf of the Minister.

 

 

 

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