After refusing to share the revenue made available to the Federal Accounts Allocations Committee, FAAC, by the Nigerian National Petroleum Corporation, NNPC, as statutory allocation for the three tiers of government for June, Commissioners of Finance and Accountants-General of the 36 states have accused the nation’s oil company of falsehood and deceit.

It stressed that the extra request by the governors was against the terms of the agreement it had with them on the matter. 

Speaking with reporters in Abuja, Chairman of the Forum, Mamood Yunusa, stated that since Wednesday, Finance minister, Mrs Kemi Adeosun has been meeting with members of the Forum, along with Federal Ministry of Finance officials, Office of the Accountant General of the Federation, Central Bank of Nigeria and the NNPC top management over the issue.

Yunusa who provided more details on Sunday, said based on all provable assumption and parameters, the NNPC should have “remitted N60 billion as royalty based on the verbal admission of Department of Petroleum Resources (DPR)”.

Similarly, based on the MTEF (Medium Term Expenditure Framework) submitted by NNPC, the expected Petroleum Profit Tax (PPT) should have been 1.46 multiplied by N60 billion, “amounting to N87.6 billion”.

He said the total figure would come to about N147.6 billion, which is what was expected to be remitted to the federation account, against N127 billion “the NNPC actually paid”.