FAAC meeting ends in deadlock over ‘shortage’ in NNPC revenue - Uju Ayalogu's Blog for News, Reviews, Articles and More

Breaking News

Post Top Ad

Tuesday 27 March 2018

FAAC meeting ends in deadlock over ‘shortage’ in NNPC revenue

FAAC meeting ends in deadlock over ‘shortage’ in NNPC revenue

The Federation Accounts Allocation Committee (FAAC) meeting ended in deadlock in Abuja on Tuesday.

This is as a result of the alleged discrepancy observed in the revenue figures presented by the Nigerian National Petroleum Corporation (NNPC).

Ahmed Idris, accountant-general of the federation, told journalists that the meeting was inconclusive because of irregularities in figures presented by the NNPC.

“Obviously, you are all aware that anything that has to do with federation revenue is statutory and, therefore, constitutional and we must always verify our figures to the last kobo,” he said.

READ ALSO :   Danjuma should be charged with felony, says Sharia council

“Failing to do so will amount to committing illegality and unconstitutionality. It is on this note that we observe some issues in the figures given by one of the major revenue generating agencies namely the NNPC.

“The committee is of the opinion that until and unless these figures are reconciled, corrected, verified and factual; we cannot distribute the revenue as the case is.”

Mahmoud Yunusa, chairman, forum of FAAC commissioners, said the states rejected the amount presented by the NNPC because it was far lower than what was projected for the month.

He argued that if the NNPC could not surpass what they presented in February, then they should not present anything less than what they presented the previous months.

“We started this meeting last week and NNPC did not submit their figures until yesterday (Monday), which we were not able to review until this morning,” he said.

“This morning when we were reviewing the figures as presented by the NNPC, it came as a great surprise to see that the amount was less than N100 billion.

“So we (states) decided that we will not collect the amount presented,

“We are contesting the figures because pipeline vandalism has reduced, while crude oil prices have continued to go up.

“On this note, we are wondering why the nation cannot raise enough money through that sector to share to states so that everyone can pay workers, contractors and so on.

“We are well aware that this development may affect the payment of salaries in states, but we cannot hurriedly accept this money and then later cry foul play.

“So, we should all be patient. But we hope that with this latest development, NNPC will do the needful as soon as possible.”

READ ALSO :   I didn’t know suitcases Jonathan’s ADC gave me contained cash – Dudafa

Are you an artiste? Do you want your music to go viral and reach a large number of audience? Promote your music and Submit your story  on Ujuayalogusblog.com by clicking here. For Advert Inquiries Tel/+44(0)7590363984 Subscribe to Ujuayalogusblog.com News!

For More:  Visit Us at Uju Ayalogu's Blog

Subscribe to Our Posts via Email


Share This

No comments:

Post a Comment

Listen to This Beautiful New Talent - Winter Wolf - Singing "Midnight"


Post Bottom Ad

Pages