The Federal Capital Territory (FCT) and other stakeholders have shared a total sum of N3,965,107,151.48 billion as statutory allocation for the month of March, 2022.
The figure which indicates an increase in revenue from, N3,592,846,301.74 billion disbursed in the month of February 2022 to N3,965,107,151.48 billion in the month of March, 2022, representing about 10.36 percent increase.
Minister of State, Dr. Ramatu Tijjani Aliyu, who presided over the 164th Joint Account Allocation Committee (JAAC), commended all critical stakeholders for their commitment towards the allocation committee.
She also used the occasion to assure that the FCTA would continue to scale up its revenue drive.
The figures released indicate that the sum of N1,667,382,074,49 billion was made available for distribution to the six area councils, while the sum of N2,297,725,076.99 billion was made available to other stakeholders, bringing the total sum to N3,965,107,151.48billion.
However, distributions to area councils show that the Abuja Municipal Area Council (AMAC), received N299, 230,797.09 million, while Gwagwalada got N269,109,403.93 million and Kuje received N307,397,373.83 million.
Other area councils include, Bwari Area Council received N264,326,148.55 million, Abaji got N268,210,871.18 million and Kwali received N259,107,479.91million, bringing the total sum to N1,667,382,074.49 billion disbursed to the six area councils.
Furthermore, distribution to other critical stakeholders include: Primary School Teachers which gulped N1,923, 745, 610.27billion, 15 percent Pension Funds took N226,478,989.57million, One percent Training Fund gulped N39,651,071.52million, while 10 percent Employer Pension Contribution gulped N107,849,405.63million, bringing the total sum to N2,297,725,076.99billion.
In a related development, the Joint Account Allocation Committee (JAAC), also approved the remittances of Internally Generated Revenue (IGR) by the SDAs totaling N2, 768,406,767.82 billion for the month of April, 2022, to six area councils.
The FCT is statutorily required to contribute 10 percent of its IGR to the area councils’ monthly fund allocation.