Tiers Of Government Disagree On Revenue Sharing For September

A meeting by the three Tiers of Government has failed to agree on the sharing of revenue from the Federation account for the month of September.

The implication of the stalemate in the meeting of the Federation Account Allocation Committee (FAAC), on Sunday, is that several state governments may delay in the payment of September salaries.

Following the stalemate, the meeting for the sharing of the revenue had been adjourned for further consultations, to resolve contentious issues.

Chairman of FAAC, David Olofu, in a statement on Sunday night said the meeting was inconclusive.

The issue in contention is a court judgment authorizing the payment of $418 million as consultancy services for the Paris club loan refund deduction.

The deduction of the $418 Million from allocations is to continue for ten years.

The Nigeria governors’ forum had rejected the execution of the judgment, until the full determination of the ongoing litigation on the issue.

States’ Finance Commissioners on Sunday said they had objected to the deduction of the $418 Million from allocations, warning it will further worsen their financial condition.

YOU CAN ALSO READ: Three Tiers Of Govt Share N601BN Revenue For Nov

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