Home Business & Economy FCTA gives prompt, adequate financing to critical infrastructure

FCTA gives prompt, adequate financing to critical infrastructure

FAVOUR SHUAIB, Abuja
The Federal Capital Territory Administration (FCTA) has reiterated its resolve towards accelerating the development of the Abuja city centre and satellite towns, by ensuring prompt and adequate financing of critical infrastructure.
Accordingly, the FCTA said there have been increased financing ofmajor projects like road, rail, water, health, education, citycleaning and school feeding programme as well as workers’ salaries an pension.
Speaking while briefing journalists ahead of the 2nd anniversary ofPresident Muhammadu Buhari’s administration, the FCTA Director of Treasury (DOT), Alhaji Isiyaku Ismaila, revealed the disbursement of N57.3 billion to contractors handling capital projects, in the last quarter of 2016.
He equally disclosed that another sum of N6.9 billion was disbursed to 627 indigenous contractors with matured bills; and in the first quarter of 2017, a total sum of N3.3 billion was paid to 403indigenous contractors handling some projects in the FCT.
He reiterated that since the inception of the Buhari’s administration,the FCTA under the stewardship of the Malam Muhammad Musa Bello has prioritized the reactivation and completion of abandoned and ongoing infrastructural projects within the Federal Capital City (FCC) and satellite towns of the Territory.
The DOT, who added that the Minister has given necessary  approval for payment for accessing all counterpart funds for critical projects, said there is a massive return of contractors to sites.
In his words: “Our own contribution in accessing the counterpart funding for which the Minister disbursed N1.7 million, in order to access counterpart funding has been made”.
“Also, the Minister released the sum of N2.3 billion to see thatpensioners are not suffering. All forms of payment of retirees are upto date. And what is legitimate to all staff are all up to date, thereis no arrears at all”,
On school feeding programme, Ismalia noted that within the shortperiod of six months, the sum of N980 million has been disbursed to feed children both boarding and day schools. The Director however attributed the current scaling up of developmental activities in the FCT within the period under review to strict adherence to due process and transparency in governance, inline with federal government’s change agenda.
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