From Isaac Anumihe, Abuja
Minister of Federal Capital Territory (FCT), Nyesome Wike, is seeking to access funds from the Natural Resources Development Fund (NRDF) to enable him complete projects in Abuja.
Speaking during a courtesy call on the chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr Mohammed Shehu, the chairman praised the developmental strides the minister is undertaking in FCT.
The chairman, who was represented by Ambassador Desmond Akawor, lauded the projects of the minister. He added that they would go a long way to ease the movements and well-being of the citizens.
“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,” he said.
According to him, the projects are in line with the Renewed Hope Agenda of economic diversification drive under President Bola Tinubu. Akawor stated that the 1.68 per cent Development of Natural Resources Fund is one of the items under Special Fund Establishment by the Revenue Allocation (Federation Account) Act CAP A15 LFN, 2004. He explained that the agency receives direct allocation from the Federation Account on monthly basis, which is added to the share of the Federal Government, being kept in trust for the three tiers of government.
The committee chairman revealed that the fund was meant for economic diversification through agriculture, solid minerals, and tourism development.
According to him, to access the fund, the commission established a procedure where the requesting entity – the three tiers of government are required to make a formal presentation to the commission through the Fiscal Efficiency and Budget Committee.
Akawor assured the delegation that the committee would ensure fairness and equity in making sound recommendations to the request by the FCT, while being guided by the objectives for the establishment of the fund.
Earlier, the Acting chairman of the FCT Internal Revenue Service (FCT-IRS) Mr Michael Ango, who represented the Minister of FCT, said the fund would go a long way in completing the numerous projects of the FCT.