as FAAC rejects NNPC revenue figures again

by Oluseyi Awojulugbe

Payment of April salary to civil servants may be delayed as the Federation Accounts Allocation Committee (FAAC) has for the second month in a row rejected the revenue figures presented by the Nigerian National Petroleum Corporation (NNPC).

In March, the FAAC meeting had ended in a deadlock because of a shortfall of N37.7 billion in NNPC remittances until Kemi Adeosun, minister of finance, intervened.

Yunusa Mahmoud, chairman, Finance Commissioners Forum, who confirmed the postponement on Wednesday, said the situation had resulted in a meeting of governors and top officials of the NNPC.

“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 told journalists.

“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.”

However, Mahmoud did not describe the situation as insincerity on the part of the NNPC, saying it could be an error.

“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,” he said.

“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.”

While addressing journalists in Washington DC on Sunday, Adeosun had said the government will demand a high level of transparency from state-owned enterprises like the NNPC because the country cannot afford to lose money.

Source:- Thecableng