FCT Area Councils Share N2.07bn from Federation Account

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Olawale Ajimotokan in Abuja

The FCT Joint Account Allocation Committee (JAAC) has distributed the sum of N2,076,826,375.10 to the six Area Councils of the Federal Capital Territory being money accruing to them from the Federation Account.

The FCT Minister, Muhammad Musa Bello, said that the meeting was sequel to the earlier meeting held by the Federation Account Allocation Committee on July 20-21, 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.
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.

Further details later