FCT Board To Generate N400 Billion Annually – Minister

FCT Board To Generate N400 Billion Annually – Minister

By Agency Reports on March 7, 2015
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Abuja
File Photo

NAN – The Minister of the Federal Capital Territory (FCT), Malam Bala Mohammed, has said that the FCT Revenue Board is expected to generate from N300 billion to N400 billion annually when established.

The bill for the establishment of the board is currently at the National Assembly.

Bala Mohammed

Mohammed, who spoke in Abuja on Friday, March 6, 2015 when he received an award of Man of the Year from Newswatch International Magazine, said the feat would be achieved if revenue leakages were plugged.

“The parliament has concluded on the establishment of the FCT Revenue Board, we are going to have lot of resources with the legal instrument when passed into law.

“We have discussed with the authorities of the City of London who have better experience on revenue generation. So, when the project takes off, we will be generating the total sum of N300 billion to N400 billion in a year,’’ he said.

Mohammed said the award was the most genuine award he ever received, adding, however, that “it will not make me to feel self-important ‘’.

He expressed appreciation to President Goodluck Jonathan that allowed him to carry out his duties without interference.

Earlier, Dr Bolu Folayan, Managing Director of the magazine, said the idea of the award came up as the Newswatch turned 30 years in January.

Folayan said the minister was selected due to his performance in the areas of project implementation and revenue generation.

He said “what he is putting in place now will go a long way in the future of FCT.’’

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