The Joint Account Allocation Committee (JAAC), of the Federal Capital Territory Administration (FCTA), received N2.3 billion from the Federal Account Allocation Committee (FAAC) for the month of May 2014, for onward distribution to the six area councils in the FCT.
The committee, which confirmed this at the weekend, noted that statutory revenue allocation for the month was N964 million’ Value Added Tax was N982.2 million; SURE-P funds stood at N57.8 million while special release was N298.8 million- totaling N2.3 billion.
Out of the amount, the total of N878.7 million was the net distribution to the area councils; after a series of deductions for distribution to other stakeholders was made.
The balance amount of N1,424, 338,738.61 representing 62 per cent of the total earnings for the month was shared to stakeholders amongst which are Primary School teachers, pension fund, training fund, Health Insurance Contribution, LEA teachers, Sanitation, security vehicles support to FCT police command and JAAC Secretariat, Refund of Overpayment and MDG.
The net distribution to each of the council had Abaji netting N113,622,513.13, Abuja Municipal Area council earning N203,516,885.17 and Bwari got N149,640,818.79 being 13%, 23% and 17 % percent respectively.
According to the Director of FCT Treasury, Mr. Ibrahim Mohammed Bomai, who signed the document, the distribution was in accordance with existing laws and status of the revenue sharing formula in Nigeria.
A breakdown of the distribution to the six area councils reveals that Abuja Municipal Area Council (AMAC) got N203.5 million, Bwari area council N149.6 million, Gwagwalada area council N146.3 million, Kuje area council N131.8 million, Kwali area council N130.8 million, and Abaji area council N113.6 million.
Other deductions were 7.5 percent employer pension contribution N40.1 million, contribution to sanitation N40.2 million, security vehicle support for FCT police command N18 million, JAAC secretariat N57.8 million, refund of over payment N60 million and Millennium Development Goal (MDG), N1.4 billion. All these deduction totals N1.4 billion, leaving a balance of N878.7 million for distribution to area councils.
Meanwhile, the Subsidy Re-investment Empowerment – Programme (SURE-P) for the month of June which formed part of the net allocation to the six Councils was shared amongst them with AMAC maintaining its usual lead earning N17, 186, 714.89 only followed by Bwari which got N9, 680, 806,.50 only. The least amount of N6, 732,592.42 got to Abaji. Kuje received the sum of N7, 883,161.27 from the SURE-P funds and Gagwalada and Kwali got N8, 296,579.52 and N8, 108,918.86 respectively.