Home News FAAC: Governors insist on full remittance from NNPC

FAAC: Governors insist on full remittance from NNPC

FAAC: Governors insist on full remittance from NNPC

Sunday Ode, Abuja

Governors of the 36 states of the federation vowed Thursday that the deadlock in the Federation Account Allocation Committee (FAAC) will continue unless the Nigerian National Petroleum Cooperation (NNPC) remits what is due to the account.

The governors under the aegis of Nigeria Governors’ Forum (NGF) met in Abuja Wednesday night to deliberate on the issue of FAAC and the minimum wage being contemplated by government among other issues.
The meeting presided over by its

Chairman and Governor of Zamfara state, Abdulaziz Yari, resolved that until the NNPC remits what is due to the federation account,the deadlock cannot be resolved. The NNPC had remitted N147 billion into the Federation Account in May, but the governors were not satisfied with it and had insisted that the correct amount be paid.

According to them, the money from the NNPC must reflect the current economic realities and prices of oil in the international
market. Briefing journalists early on Thursday, Yari said, the governors will not accept the figures from the NNPC. He said: “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 to have with state governors to remit a maximum of ₦112 billion per month was done when oil price was $48 barrel per day but now the price $78. He added: “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.

“And NNPC said they have N15 billion for miscellaneous, N9 billion for pipeline maintenance, N3 billion for crude loss, all those
things are not approved by anyone.“NNPC is owned by the federal, states and local government. The states get 48 per cent while the local government and federal government get 52 per cent. We have to agree whatever we get the federal government is getting 52 percent. We are saying this money should be brought to the public for sharing.” The governors also met with the Minister of Labour and Employment, Chris Ngige, to discuss the issue of the minimum wagen which has been referred to a committee of the governors.

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