FAAC shares N388.3bn April allocation

 

  The Federal Accounts Allocation Committee on Friday shared the sum of N388.339 billion among the three tiers of government as revenue allocation for April.

However, states and local governments have denied knowledge of any remittance of N1.48 billion which PricewaterhouseCoopers instructed the Nigerian National Petroleum Corporation (NNPC) to pay into the federation account.              

Addressing journalists at the end of FAAC meeting on Friday, the chairman of Commissioners of Finance Forum, Barr. Timothy Odaah, said the states were not aware of remittances from the NNPC.
“Mr. President has directed that the money be paid into the federation account. The Minister of Petroleum Resources did the same too, but it is important to note that we have not seen anything,” he said.
Questioned on the inability of some states to pay civil servants’ salaries, Odaah blamed the state governors, saying,”if workers salaries could not be paid as at when due, what is their priority then? Why have those states refused to pay workers? Paying workers’ salaries is not an achievement of any government. It is naturally expected that people must be paid for services rendered.”
FAAC approved for sharing N75.160billion from Value Added Tax( VAT) as against N71.197 billion.
A gross revenue of N282.062 billion was received for the month as against N315.044 billion in the previous month.
As expected, the federal government got the highest allocation of N132.118 billion, states got N67.012 billion and local governments went away with N51.663 billion.
The oil producing states also got the sum of N23.109 billion as 13 per cent derivation.
The Minister of State for Finance and chairman of FAAC, Amb. Bashir Yuguda, attributed the lower revenue sharing in the past months to “frequent shut down which continued to impact negatively on crude oil revenue.”