FAAC: FG, States and Local Govt shares N620.656 bn for May

Following a re-convergence of this month’s Federation Account Allocation Committee (FAAC) meeting earlier scheduled for last week but was inconclusive due to an impasse between commissioners of state and the minister of state finance, Dr. Yerima Ngama over the distribution of February arrears.
The FAAC has however shared the total sum of N620.656 billion amongst the three tiers of government with the Federal government getting the sum of N 235.778 billion representing 52.68% of the figure and the States government got the sum of N119.590 billion representing 26.72% while the Local government councils got the sum of N92.199 billion representing 20.60%.
However, the disputed February arrears was also shared between he three tiers and the total arrears collected for the month of February amounted to the tune of N156 billion.
The Minister of State Finance, Dr Yerima Ngama who chaired the meeting said they have also collected arrears for the months of May and June but payment will start with the February arrears, he said N92 billion collected as arrears for the month of May will be paid next month.
Reacting also after the meeting, the chairman of the commissioners forum, Mr Timothy Odaa (Ebonyi state) thanked the media for helping to report objectively the impasse that met the last FAAC meeting.
“On behalf of the commissioners, I will like to thank the media for an objective reporting which did help get the ears of the governors and Mr President also who intervened in making sure that the issues were resolved, the issues that brought the problem concerning the February arrears has been resolved and distributed, we are now going home waiting for the alert.” He pointed.
“The issue of the augumentation is carried forward to July and you know we have less than a month from today so we will be coming back, you will hear that that one has been taking care of and before we came here by the virtue of the compulsory meeting which the impasse brought about, it has put the heads of the presidency and the governors together’ Odaa said.