The Federation Accounts Allocation Committee (FAAC) ended abruptly yesterday without the federal, states, and local governments sharing revenue for June.
The Nigerian National Development Corporation (NNPC) refused to remit more than what it previously agreed to remit.
The FAAC couldn’t 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 stock to its figures yesterday and the FAAC members wouldn’t agree.
The meeting ended at about 7:50pm and journalists weren’t addressed on the revenue sharing details as it’s 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 yesterday.
But our correspondent gathered from sources familiar with the matter that, states were unable to reach agreement with the NNPC on the amount to share.
The meeting might likely reconvene today if further agreements are reached.
