Minister of the Federal Capital Territory (FCT) has made a presentation to the Fiscal, Efficiency and Budget Committee of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) as a prerequisite to access funds from the Natural Resources Development Fund (NRDF).
The presentation was made by a delegation led by the Acting Chairman of the FCT – IRS Mr. Michael Ango, who represented the Minister of the Federal Capital Territory (FCT), Ezenwo Nyesome Wike.
The FCT team was received by the Chairman of the Fiscal Efficiency and Budget Committee and Federal Commissioner representing Rivers State, Ambassador Desmond Akawor on behalf of the Commission at the Commission’s headquarters in Abuja.
Ambassador Akawor, who spoke on behalf of the Chairman of the Commission, Dr. Mohammed Bello Shehu, praised the developmental strides of the Minister of the FCT, Ezenwo Nyesome Wike.
He said, “The Commission welcomes the innovative approaches of the Minister to develop some of the natural resources of the FCT through Agriculture, Solid Minerals and Tourism sectors in order to accelerate the socio-economic development of the FCT and Nigeria as a whole.
“These are in line with the Renewed Hope Agenda of economic diversification drive under the President and Commander in Chief, Bola Ahmed Tinubu”.
Ambassador Akawor informed that the 1.68 percent Development of Natural Resources Fund is one of the items under Special Fund establishment by the Revenue Allocation (Federation Account, etc) Act CAP A15 LFN, 2004.
He further said that the Fund receives direct Allocation from the Federation Account on monthly basis which is added to the share of the Federal Government to be kept in trust for the three tiers of Government.
Speaking further, the Committee Chairman disclosed that the Fund was meant for economic diversification through agriculture, solid minerals, and tourism development.
He explained that to access the fund, the Commission established a procedure where the requesting entity i.e., the three tiers of government are required to make a formal presentation to the Commission through the Fiscal Efficiency and Budget Committee.
Ambassador Akawor added that the Committee would thereafter carry out a physical assessment visit to the requesting entity to certify the viability of the issues raised during the presentation.
This, according to him will be followed by a report with recommendations on what is appropriate to be given to the requesting entity and finally a letter containing the recommendations will be sent to the President and Commander-in-Chief for approval.
Ambassador Akawor, therefore, assured the delegation that the Committee would ensure fairness and equity on making sound recommendations to the request by the FCT while being guided by the objectives for the establishment of the Fund.
In the presentation, the Acting Chairman of the FCT-IRS Mr. Ango, explained that the fund was being sought to enable the FCT execute projects such as: “Construction, rehabilitation, and desilting of dams across the FCT to enable year-round crop production, including Lower Usuma Dam, Pedan Dam, Jabi Lake Dam, and Kilankwa Dam; Installation of solar-powered irrigation systems to support dry season farming and reduce reliance on fossil fuels.
“Establishment of six mechanization service centers and procurement of tractors, harvesters, and other equipment to support smallholder farmers so as to boost agricultural output; Provision of crop-specific harvesting and on-farm storage technologies to reduce post-harvest losses and extend market access; Modernization of grains and cattle markets and improvement of animal breeding and veterinary services, and Development of the FCT’s tourism sector and exploration of its solid mineral potential.”
During the interactive session, members of the Fiscal Efficiency and Budget Committee appreciated the giant strides of the Minister of the FCT, Nyesom Wike since his assumption of office.
On the request by the FCT to a access funds from the NRDF, the members engaged the FCT team with questions aimed at clarifying the objectives, implementation strategy, and expected outcomes of the proposed projects.
In his response, Mr. Ango assured the Commission that the Funds would be judiciously utilized if the request to access it is granted.
The FCT’s delegation visit was a follow up to the letter written by the Minister of the Federal Capital Territory, Ezenwo Nyesome Wike seeking to access funds from the Natural Resources Development Fund.
Maryam Umar Yusuf Head, Information and Public Relations of the RMAFC be said the Federal Commissioner representing the FCT, Ambassador Ayuba Jacob Ngbako, commended the FCT-IRS for its forward-looking vision in improving the internally generated revenue of the Federal Capital Territory.
He applauded the agency’s strategic approach to economic development and emphasized that such initiatives are key to sustaining national growth.
Ambassador Ngbako also reiterated the unwavering commitment of RMAFC to ensuring fiscal responsibility, accountability, and due diligence in evaluating the request for funding from the Development of Natural Resources Fund.
He solicited the support of his colleagues to make a sound recommendation to the FCT given the testimony of the achievements of the Minister of the FCT, Nyesom Wike.
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