Ndubuisi Francis in Abuja

The meeting of the Federation Account Allocation Committee (FAAC) for the month of April was Wednesday postponed, the second time in a row, as controversy again dogged the remittances by the Nigerian National Petroleum Corporation (NNPC) to the Federation Account.

The FAAC meeting for March where the representatives of the three tiers of government had gathered to disburse revenue that had accrued to the account for the month of February had ended in a stalemate due to a shortfall of about N37.7 billion in NNPC remittances for that month.

It took the intervention of the Minister of Finance, Mrs. Kemi Adeosun, who pleaded with the governors before the meeting was reconvened for the sharing of revenue to the various tiers of government.

The Chairman, Finance Commissioners Forum, Mallam Yunusa Mahmoud, who confirmed the postponement of the FAAC meeting for March Wednesday, described the situation as unfortunate.

He stated that the development had prompted the governors’ intervention again, adding that the governors held a “high-level meeting” with top officials of NNPC Wednesday in Abuja.

“We have some challenges, the figures we have gotten is far below what we expected to be remitted by NNPC. As it is now, there is a meeting between the governors and the top management of NNPC at the State House.

“I believe this is a very high-level deliberation and something good will come out of it,” he said.
According to him, the NNPC was duty-bound to carry FAAC stakeholders along in its business, adding that anything short of transparency in the rendition would elicit questions.

“There are processes okay. Before now, you did not hear such news, but because this government is a government of change, some level of transparency is expected.

“When you pick your figures and you submit your figures, the person that is supposed to look at it and deliberate on it will ask questions if need be,” he said.
On whether NNPC’s action was not tantamount to deliberately shortchanging the Federation Account, Mahmoud said it was too hasty to hold the position.
He said: “I don’t want to use the word insincerity. What happened could be an error. If one party is wrong, the other party is right; if you add it together at the end of the day you make progress.

“The last FAAC meeting was postponed twice and at the end of the day, we made progress. That was during the Easter break.
“But in the spirit of Easter, we held a meeting, because we were looking at the plight of the workers that were supposed to receive their salaries as and when due, but based on the submission we have now, some states will not pay salaries now.
“What we are doing now is we have to table where we will discuss. That is why the matter is at the highest level and is being discussed now.”


https://www.thisdaylive.com/index.php/2018/04/26/again-faac-meeting-postponed-over-shortfall-in-nnpc-remittances/

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1. Buhari and APC have done nothing to bring genuine reform to NNPC

The same financial misappropriation that went on under previous governments is going on under this one (apparently they were simply vexed and offended that they weren't the ones in charge of the 'chopping')

2. Someone said recently that some people 'were waiting for oil money' ....the truth is more evident as the days go by that we have a #WorldClassLazyNigerianPresident


https://www.vanguardngr.com/2017/10/25b-nnpc-scam-nigerians-can-now-see-hypocrisy-called-anti-corruption-fight-pdp/
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And the fraud continues.

Why would tiers of govt cone together to share money particularly the state governments, can't they formulate policies on how to be independent of these fraud sharing formular?

Several states can make huge revenues through tourism + hospitality, natural resources, building correct human capacity....

I think the 2019 election should be a deciding factor, what genuine reforms are you bringing as a camdidate to the table in terms of revenue generation, job creations, smes,....

wahala don dey be that for this month as April workers salaries and pensions will be delayed and paid till May 15th 2018....corper una allawee don hang, npower volunteers una stipends don fail brake o

Buhari as petroleum minister is a thief who should be arrested and prosecuted by the EFCC

This isn't news we all expected this

Every right thing ING adult knows that this governmnet is more corrupt than all past governments put together

The only thing is they use propaganda and.media in the early days to deceive us but like all things come to an end so did their deceit

LETS LOOK FOR A CREDIBLE CANDIDATE FROM NAIRALAND AND collect/donate money to the election campaign SO THAT HE CAN CHALLENGE APC. ANYONE WILLING? we are now beyond waiting on APC and PDP... Nigerian youths with our PVCS we can do it


These present people are clueless

Abokii they loot this country with VEX

All they know is sharing, but dumb in creatively generating.

Waiting for our oil money to share.

Failed government.

Na ordinary civil servant with salary as the only source of income go suffer am

ken2039:
i dont talk much my game do the convincing call or whatsapp if interested

seun please do something about this scammers on nairaland. why can't they play it and make their millions, why are they sharing it for small money?

When you remember the promise that Nigeria would be corruption free by 2018

This is the danger of diversifying the economy fro oil to oil. An oil based economy has caused this.

What happened to all the agricultural strides made under Adesina?

Maybe they, NNPC are trying to balance the sheet. There are loopholes, don't fall victim if you're a careless staff there.
Again, this Oil is why they keep jumping & shouting "One Nigeria."

Shortfall of 37b was used for pms subsidy. Where do they think nnpc is paying subsidy from.

Am just wondering... Does Nigeria only rely on crude oil?

FAAC Meeting - Gathering of parasites who convene every month to share the resources of a region. No FAAC for cotton, groundnuts, solid minerals being mined in the north. No FAAC for agricultural produce exported ...it is well. Scrap states that are not economically viable

Pesuzok:
Shortfall of 37b was used for pms subsidy. Where do they think nnpc is paying subsidy from.

They said there was nothing like subsidy so find another.

famosty:
Am just wondering... Does Nigeria only rely on crude oil?

No. Nigeria depends on the NNPC. One company. A whole country depends on one corporation.

hope thiz is nt goin to affect our allawee sha..cuz guyz ar nt smiling ooooo

Adekdammy:
And the fraud continues.

Why would tiers of govt cone together to share money particularly the state governments, can't they formulate policies on how to be independent of these fraud sharing formular?

Several states can make huge revenues through tourism + hospitality, natural resources, building correct human capacity....

I think the 2019 election should be a deciding factor, what genuine reforms are you bringing as a camdidate to the table in terms of revenue generation, job creations, smes,....

If you don't want the state governors to always come to Abuja every month to share money, ask the government of the day to implement true federalism/ restructure. That is the only way we can grow as a nation

That's very serious o

No. Nigeria depends on the NNPC. One company. A whole country depends on one corporation. [/quote]

Reference:


They said there was nothing like subsidy so find another.

I am not holding brief for the govt and I am not interested in propaganda. The landing cost of pms is 170 and we are buying at 145. Please do the math

Adekdammy:
And the fraud continues.

Why would tiers of govt cone together to share money particularly the state governments, can't they formulate policies on how to be independent of these fraud sharing formular?

Several states can make huge revenues through tourism + hospitality, natural resources, building correct human capacity....

I think the 2019 election should be a deciding factor, what genuine reforms are you bringing as a camdidate to the table in terms of revenue generation, job creations, smes,....

you want governors to actually work?!
Haba bros...

Oil produced in the south....oil proceeds shared in the north.... PVC alone won't solve our problems, let everyone move to their tents ohh Nigeria!!!