Again, FAAC Rejects NNPC Revenue Figures

For the second month in a row, the Federation Accounts Allocation Committee (FAAC) rejected the revenue figures presented by the Nigerian National Petroleum Corporation (NNPC).

The Committee had in March rejected the NNPC remittances after a shortfall of N37.7 billion, but for the intervention of Kemi Adeosun, Minister of Finance.

Speaking to newsmen on Wednesday, Chairman Finance Commissioners Forum, Yunusa Mahmoud, said some governors and top officials of the NNPC are meeting to resolve the issue.

“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,” he said.

“I believe this is a very high-level deliberation and something good will come out of it. 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.

“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. 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.”