FCT Seeks Natural Resources Fund for Key Projects from RMAFC
By Patience Ikpeme
The Federal Capital Territory Administration has formally approached the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) to request access to the Natural Resources Development Fund (NRDF) as part of efforts to boost development through agriculture, tourism, and solid minerals.
A delegation from the FCT, led by the Acting Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Mr. Michael Ango, made a presentation before the Fiscal Efficiency and Budget Committee of the Commission. Mr. Ango represented the Minister of the FCT, Ezenwo Nyesom Wike, at the session.
The team was received by Ambassador Desmond Akawor, Chairman of the Fiscal Efficiency and Budget Committee and Federal Commissioner representing Rivers State, on behalf of the RMAFC Chairman, Dr. Mohammed Bello Shehu.
Ambassador Akawor welcomed the initiative and commended the FCT Minister for deploying development-focused strategies to unlock the territory’s natural resource potential. He noted that the Commission views the FCT’s efforts as aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic diversification.
He explained that the 1.68% Development of Natural Resources Fund is provided for under the Revenue Allocation (Federation Account, etc.) Act CAP A15 LFN, 2004. It is financed directly from the Federation Account and held in trust by the Federal Government for the benefit of all three tiers of government.
Akawor said the fund is designed to support projects that promote economic diversification through agriculture, solid minerals, and tourism. He described the process for accessing the fund, which begins with a formal presentation to the Fiscal Efficiency and Budget Committee. This is followed by a physical inspection of proposed projects, after which the Committee submits a report and recommendations to the President for final approval.
He assured the FCT delegation that the Committee would evaluate their request based on merit and ensure that its recommendations reflect the goals of the NRDF.
In his presentation, Mr. Ango stated that the FCT is seeking to access the fund to support a wide range of development projects. These include the rehabilitation and desilting of major dams across the territory to ensure year-round crop production, the installation of solar-powered irrigation systems to promote dry-season farming, and the establishment of mechanization service centers with modern equipment for smallholder farmers.
He added that the FCT Administration also plans to deploy new technologies to reduce post-harvest losses, modernize grain and cattle markets, improve veterinary services, and develop the territory’s tourism and solid mineral sectors.
During an interactive session, members of the Committee expressed satisfaction with the development strides of the FCT Minister since assuming office and engaged the FCT team with questions on the objectives, implementation strategy, and expected outcomes of the projects. Mr. Ango assured the Commission that the funds, if approved, would be used judiciously to achieve the desired results.
The visit by the FCT team followed a formal letter from the Honourable Minister of the FCT seeking access to the NRDF. The Commission is now expected to conduct an on-site assessment before submitting its recommendations to the President for consideration.
