Federation Account: NNPC outstanding remittance now N3.083 trillion-Kwara finance commissioner

Date: 2014-05-21

Total outstanding remittance by the Nigerian National Petroleum Corporation(NNPC) into the federation account from 2011 to March 2014 is now N3.083trillion.

Speaking with journalists, after the Joint Account Allocation Committee (JAAC) meeting with local government chairmen in Ilorin on Tuesday, the Kwara State Commissioner for Finance, Alhaji Ademola Banu, said non-remittance of the money into the federation account by the NNPC, for distribution to states and local governments, had been having negative impact on most states and local governments of the country.

The commissioner, who gave the breakdown of non-remittance, said the total amount due to federation account by NNPC in 2011 was N.708 trillion; 2012 was N1.31 trillion; 2013 was N1.52trillion while it was N.29trillion from January to March 2014.

"NNPC adduced reason for amount un-remmited to federation account to payment of oil subsidy, which they said was not clearly accounted for. They said there was no proper accountability. We are still waiting because we expect all money to go into the federation account.

"And because of the inadequacy of amount distributable for May 2014 and the fact that NNPC refund has been stopped, we augmented with the tune of N210 million from excess crude account meant for capital projects in council areas to enable LGs meet salary obligation and other commitments.

"At the last FAAC meeting, allocation to all states has been consistently reduced. Therefore, there's a serious shortfall, which is affecting most states and LGs of the federation from meeting their monthly commitments.

"Also, there are some amounts due to the federation account from the NNPC that had not been remitted and this has greatly affected most of the states in the discharge of their monthly obligations and meeting their commitments to contractors and some states in meeting salary commitments," he said.

The commissioner, however, assured that Kwara State government would continue to do its possible best to ensure that workers were paid as at when due without delay, adding that it would strive to always pay its contractors.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Agor     Abdulkadir Jimoh     Lukman Adeloyin     Christopher Odetunde     Asiwaju Bola Tinubu     Kwara-SAPZ Project     Raji Ayodele Kamaldeen     Femi Ogunsola     Yahaya Abdulkareem Babaita     JMK Construction Company Limited     Saraki     Olukotun Of Ikotun     Isiaka Abdulrazak     Ahmed Mohammed Rifun     Sola Saraki University     Ola Falade     Olayinka Oladapo Jogunola     Makama     Harmony Holdings     Moses Afolayan     Sidikat Uthman Ajibola     Abdulfatai Salman Baakini     Abdulmumini Sanni Jawondo     Mubarak Oladosu     Kolawole Bashirat     Alapado     Aliyu Alhassan     NITDA     Taofik Abiodun Ahmed     Aasiyat Bello Oyedepo     Salake     Jare Olatundun     Al-Adaby     Mohammed Tunde-Jimoh     Shade Omoniyi     Alfa Belgore     Abdulhakeem Adelaja Amao     Memunat Monsuma     Ojuekun     Talaka Parapo     Col. Adedipe     NaAllah     Arca Santa     YAKOOYO     Ibrahim Abikan     Cassava Growers\' Association     Ita-Ore     Maryam Ado Bayero     Salary     QuickWin     Madawaki     Awoye     LAK Jimoh     CCEPE     Emir Of Ilorin     Oba Mogaji Abdulkadir     Sherif Sagaya     Olosi Of Osi     Kwara Liberation Group     Majlis For Sadaqah, Zakat And Waqf     Bayo Onimago     National Union Of Road Transport Workers     Ibrahim Abdulqadir Abikan     Igbaja     Quranic Recitation Competition     Iliasu     Tuesday Assayomo     Surajudeen Akanbi     Muhammed Taofeeq Abdulrazaq     Owu Fall     The Herald     Savannah Centre For Diplomacy, Democracy And Development     Government House     Lanwa     Tunde Yusuf     Plat Technologies Limited     Umar Danladi Shero    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

UTME     Adedayo Yusuf Abdulkareem     Funmilayo Mohammed     Owo Arugbo     Zainab Abass     Joseph Offorjama     Bayo Mohammed Onimode     Salman Alada     Taiwo Joseph     George Innih     FOMWAN     Monsurat Omotosho     Mary Kemi Adeosun     Alaro     Millennium Development Goals     Cornelius Fawenu     NAWOJ     Kwara State Governor     Afolabi-Oshatimehin Adenike Harriet     Kwabes     Pakata     ARMTI     Gwanara     Olaosebikan     Ramadan     Yakubu Mohammed Abdullahi     Oba Of Jebba     Amos Justus Sayo     Mohammed Abdulahi     Folajimi Aleshinloye     Read With Me     Sa\'ad Alanamu     Yomi Adeboye     Ibrahim Taiwo     Savannah Centre For Diplomacy, Democracy And Development     Sheikh Ariyibi     Orisun Igbomina     Memunat Monsuma     CT Ayeni     Kayode Oyin-Zubair     UITH     Dan Masanin     Oniwasi Agbaye     Isau     Alloy Chukwuemeka     Trader Moni     UNIFEMGA     Shuaib Jawondo     Ajase-Ipo     Sheriff Olanrewaju     Igbomina     Ayo Opadokun     Ibrahim Mohammed     Borgu     Oyedepo     Adewuyi Funmilayo     Abdul Jimoh Mohammed     Saka Saadu     Abdulwasiu Bolaji Adeyi     Rotimi Oyedepo     Hussein Oloyede     Saka Onimago     Tunde Saad     Okin Biscuit     Hameed Oladipupo Ali     Lukman Oyebanji Fagbemi     HICA     Tsaragi-Share     Kawu Baraje     Guber Aspirant     Abdulrauf Yusuf     Apado     Aremu Bose Deborah     Ahman Patigi     Aiyedun     Bashiru Makama     First Lady