Nigeria: FAAC Meeting Ends Without Sharing Revenue for June

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The Federation Accounts Allocation Committee meeting in Nigeria ended abruptly on Tuesday without the federal, states, and local governments sharing revenue for June.

The Nigerian National Development Corporation refused to remit more than what it previously agreed to remit. The FAAC could not hold last two weeks due to what the states and federal ministry of finance described as under remittance of revenue by NNPC. But the NNPC stuck to its figures on Tuesday and the FAAC members wouldn’t agree. 

The meeting ended at about 7:50pm and journalists were not addressed on the revenue sharing details as it is with the tradition of the FAAC meetings. 

The Chairman, Finance Commissioners Forum, Mallam Mahmoud Yunusa declined to speak on the agreement reached with the NNPC, when approached by journalists at the ministry of finance. 

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