Fidelity bank banner UBA banner
FAAC deadlock: NNPC can’t continue spending public funds without approval – Governors

By Juliana Taiwo-Obalonye, Abuja on 20/07/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 469

•Chairman, Nigerian Governors Forum, Governor Abdulaziz Yari
•Chairman, Nigerian Governors Forum, Governor Abdulaziz Yari

Governors under the auspices of the Nigerian Governors Forum met Wednesday night in Abuja to resolve some of the issues that deadlocked the last Federation Accounts and Allocation Committee (FAAC) meeting in Abuja.

During their deliberations, the governors insisted that the deadlock will continue until the Nigerian National Petroleum Corporation (NNPC) remits what is due to the public to government coffers which would be shared equally among the three tiers of government.

The NNPC had remitted N147 billion into the Federation Account in May, which the governors faulted and described as a far cry from the expected revenue which does not reflect the current economic realities and prices of oil in the international market.

The governors also queried the amount that the NNPC is claiming to have paid for petroleum subsidies.

The governors said that final decision of their deliberation will be tabled at Thursday’s National Economic Council (NEC), presided over by Vice President Yemi Osinbajo.

Meanwhile, allocations for the months of May and June were yet to be distributed among the three tiers of government following the rejection of NNPC remittances.

The chairman of the forum and Zamfara state governor, Abdulaziz Yari, while briefing journalists at about midnight said, the governors still disagree with the figures presented by the Oil Corporation.

“There is a disagreement between the figures presented. I have been on the saddle for seven years and I have been attending NEC for past four months and if I see discrepancies I should be able to tell.”

According to Yari, the agreement NNPC claims it has with state governors to remit a maximum of N112 billion per month was done when oil price was $48 per barrel but now the price $78.

He said, “NNPC said it paid N88 billion for subsidy and in the month of June it said it paid N31 billion but it claimed N57 billion is for payment of subsidy in 2017, that is not acceptable and we won’t give the approval. You can’t just deep your hand into the public purse and take the money, you have to seek approval from the NEC or Mr President.

Excerpted from Daily Sun report

Source News Express

Posted 20/07/2018 12:15:24 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
National Assembly Okigwe Zonal Rerun: Uwajumogu pledges effective...

PDP, APC trade words over Akpabio

Nollywood legend Pete Edochie threatens to curse those...

Fantastically Challenged Country, By Olusegun Adeniyi

Senate probes alleged plot to remove Saraki; CCT...

APC chieftains at war with Buhari over board...

Ibori's daughter, Speaker win PDP primaries in Delta...

IOCs, CBN to collaborate to support marketers with...

Flood kills 2, washes away farm land, crops...

Angry teachers walk out of US classrooms, take...

Rivers APC condemns alleged attempt to assassinate Amaechi...

Of crimes and punishment: Should we really blame...

 

Latest News Boko Haram kills another abducted Red Cross worker, threatens to enslave Leah Sharibu Microsoft co-founder succumbs to cancer Presidency reportedly orders EFCC to detain Fayose indefinitely Kano lawmakers probe alleged bribery by Governor Ganduje How I’ll deliver one million votes for Governor Emmanuel’s second term — Elijah Ifot, Akwa Ibom leader in Lagos 2019: NEFAD endorses Atiku, Umahi 2019 Presidency: Igbo Ekunie berates Southeast PDP for position on Atiku’s choice of Peter Obi as running mate Police summons PDP guber candidate over alleged murder 2019 elections: INEC insists Zamfara APC has no candidate Adeleke to be docked 31 October for exam fraud ASUU splits in two over attack on vice-chancellor of FUOYE Atiku can get our economy working again — Spokesman

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (406,535 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,234 views) Shameless Genevieve Nnaji exposes breasts in public (314,579 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (256,585 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,275 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,225 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (203,968 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,464 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,011 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (165,828 views) Lagos plane crash: Journalist releases victims’ names (161,395 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,215 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,680) Business Verdict (52) Columnists (945) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (659) Global Business Monitor (304) International (2,530) Interview (165) Live Commentary (28) Love Matters (145) News (39,629) Opinion (1,123) Pidgin (13) Politics (7,230) Religion (880) Sports (1,730) Stock Watch (35) AMA & Al Jazeera Global Update

 

Zenith Zero Balance

NLNG Expression of Interest banner

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Fulham vs Arsenal 1-5 All Goals & Extended Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement