The six area councils of the federal Capital territory (FCT) have shared a total of N2,372,382,097.82, being their allocation from the Federation Account Allocation Committee (FAAC) for the month of November 2012.

The allocation represents an increase of N160,914,908.96 or 7.3 percent over the N2,211,467,188.86 paid to the area councils in October.

Chairperson of the FCT Area Councils Joint Account Allocation Committee (JAAC), Oloye Olajumoke Akinjide, disclosed this during the committee's meeting on Friday.

Akinjide who was represented by the Permanent Secretary, FCT, Engr. Anthony Ozodinobi, disclosed that the Subsidy Reinvestment and Empowerment Programme (SURE-P) allocation accounted for N56.77 million of the total revenue allocation received from the FAAC.

A breakdown of the revenue allocation as presented by Akinjide, who is also the minister of state for the FCT shows that N890.69 million was from Value Added Tax; N663.32 million from Statutory Revenue Allocation; N368.68 million from understated account in the Central Bank of Nigeria; N275.35 million from non-oil excess revenue and N23.10 million from Nigerian National Petroleum Corporation refund.

"Of the N2.372 billion available for distribution to the Area Councils, the FCT Joint Account Allocation Committee distributed N845.98 million to the FCT Universal Basic Education Board (UBEB) for payment of primary school teachers' salaries in the six area councils; N95.04 million to FCT Area Councils Pension Board (ACPB) being 15 per cent pension fund as statutorily required, and N23.72 million to FCT Area Councils Service Commission being one per cent training fund, also statutorily required.

"The net revenue allocation of N1,280,775,901.74 was distributed to the six Area Councils, with Abuja Municipal receiving N322.75 million; Bwari, N233.99 million; Gwagwalada, N204.96 million; Abaji, N186.23 million; Kuje, N174.61 million; and Kwali, N158.21 million.

"Of the N56.77 million SURE-P funds, Abaji was allocated N6.96 million, Abuja Municipal, N16.77 million; Bwari, N9.28 million; Gwagwalada, N8.50 million; Kuje, N7.45 million, and Kwali, N7.79 million," she added.