Wednesday, May 14, 2025

NNPC’s N38bn discrepancy in revenue stalls FAAC meeting

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Jaafar Jaafar
Jaafar Jaafarhttps://dailynigerian.com/
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
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The Minister of Finance, Kemi Adeosun, said she is meeting with the NNPC GMD over discrepancies in payment into the Federation Account.

This is coming after the Federation Account Allocation Committee, FAAC, meeting on Tuesday was inconclusive due to discrepancies of about N37.76 billion in revenue presented by the NNPC.

Mrs Adeosun, who is also the chairman of FAAC, said she called for an emergency meeting next week with the Group Managing Director of NNPC, Maikanti Baru, and other key management staff over revenue payment into the Federation Account.

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The Minister, in a statement made available to journalists by her spokesman, Oluyinka Akintunde assured Nigerians that the FAAC meeting would hold on Wednesday at 9am.

She said that the Accountant General of the Federation, Commissioners of Finance and Accountant-Generals of the 36 States would also be present at the meeting.

Similarly, she said that other representatives of the NNPC, Federal Inland Revenue Service, Nigeria Customs Service, Department of Petroleum Resources would also be at the meeting.

NAN

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