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