FCTA Redeems N334m Counterpart Fund for ACReSAL Project

Olawale Ajimotokan in Abuja

The FCT Administration has paid N334 million of its counterpart funds of the $700 million loan which the federal government secured from the World Bank for the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project.

The National Coordinator of the project, Mr. Abdulhamid Umar, disclosed this yesterday in Abuja at the inauguration of the committees for the six Areas Councils by the Mandate Secretary of the FCT Agriculture and Rural Development Secretariat, Lawan Geidam.

Umar said the $700 million sovereign loan secured in 2021 was meant for the FCT and 11 northern states to tackle deforestation and food insecurity.

He said the project had accessed over N11 billion from the implementing states as counterpart funds, adding no state would access the facility without providing their own counterpart fund.

“I am happy to report that FCT have paid their own counterpart funding of N334 million, but there are still balances. We want to use this opportunity to appeal to the FCT Minister and the Minister of State to intervene and balance the account because the figure is largely the minimum of N500 million.” Umar said.

In his remarks, Geidam described ACReSAL project as a community-based initiative funded by the World Bank in collaboration with the federal government through Ministries of Agriculture, Environment, and Water Resources..

He said that the project to tackle the challenge of landscape degradation and promote effective watershed management will build community resilience to climate change and bolster agricultural production for enhanced livelihood in the 19 northern states of Nigeria and the FCT.

Earlier, the Project Coordinator, FCT ACReSAL, Mrs Caroline Opara, said inaugurating the committee was crucial considering the community approach to the implementation of the programme.

She said that the committee would ensure inclusiveness and sustainability of the intervention made in any community.