Home NEWS FCT Administration Releases N5.7 Billion Counterpart Funds

FCT Administration Releases N5.7 Billion Counterpart Funds

Dr Ajakaiya FCT PermsecThe Administration of the Nigeria’s Federal Capital Territory (FCT) has announced the released of the sum of N5,744,835,928.38 to various development partners as counterpart funds for the projects they are executing in the Territory.
The FCT Permanent Secretary, Dr. Babatope Ajakaiye who made this known at an interactive session with the Information Officers under the FCT Administration at the FCDA Conference Room, Abuja, said that some of these counterpart funds have not been paid for several years.
According to him, the Administration has taken this step to redeem its obligations and image with the international development partners in tandem with the Change Agenda of the Federal Government.
Dr. Ajakaiye said that the sum of N1,787,077,262.75 was released to the Universal Basic Education Board (UBEB) which has not been paid since 2013 and therefore the release includes all the arrears.
He said that N50 million was also released to the Community and Social Development Programme of the NYSC, adding that out of the sum of over N5.7 billion, the sum of N46,513,666.000 has been released for the Japanese International Corporation Agency (JICA) projects in the FCT even as N113,488,000 is for FCT FADAMA programme.
“The sums of N2,939,681,413.96 and N808,075,585.62 were released as counterpart funds for the Abuja Rail project as well as its Consultancy Services respectively,” he added.
Dr. Ajakaiye warned that nonchalant attitude must be stopped forthwith as Information Officers have a lot of role to play to inform and publicize to the residents on the day-to-day activities of the FCT Administration.   [myad]