Finance commissioners from the 36 states insist that remittance should be N142 billion naira instead of 127 billion.

Our big story examines the issues surrounding a growing national controversy that has stalled the federation account allocation committee meeting for a week.

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State commissioners of finance who converged on Abuja on Wednesday June 27, 2018 expecting to collect their shares of their monthly allocation walked out of the Federation Account Allocation Committee, FAAC, meeting protesting unclear deductions by the Nigerian national petroleum corporation, from the revenues for the month of may 2018.

The development is already having a telling impact as the minister of finance, Kemi Adeosun and chairman of FAAC say salaries of public service workers will be delayed.

The finance commissioners, who said that the one hundred and twenty-seven billion naira of royalties and petroleum profits tax remitted by the NNPC is unacceptable, challenged the position of the revenue for the month.

According to them, the corporation remitted one hundred and twenty seven billion naira instead of one hundred and forty seven billion naira for the month of May.

The corporation defended its remittance of one hundred and forty seven billion naira saying that it had already agreed with the state governors to make a monthly remittance of one hundred and twelve billion naira to FAAC, but was able to exceed the amount by thirty-five billion naira, bringing its remittance for may 2018 to one hundred and forty-seven billion naira.

Talks are still on to address the issue of revenues remittance to the Federation account by NNPC with the Vice President expected to wade in.