Nduka Chiejina (Assistant Editor)
Three hours after the three tiers of government went in for the monthly Federation Account Allocation Committee (FAAC) meeting, there was no agreement on what to share for February 2020.
The Director, Press of the Federal Ministry of Finance Mr. Hassan Dodo, simply reporters that the meeting was inconclusive without giving details.
However, a FAAC member who refused to be named, confirmed that the meeting was deadlocked between the federal and state governments-the two heavy weights.
Another source told The Nation to “cast your mind back to the source of past disagreements at FAAC.
“What this means is that there wasn’t enough to share because a revenue generating agency did not remit fully into Federation Account.”
In what has become the tradition, the source disclosed that a new date will fixed for continuation of the FAAC meeting after the National Economic Council (NEC) at the Villa on Thursday.
Read Also: FAAC shares N635.826bn for November 2019
There was no indication anything was untowards as the FAAC members gathered for the meeting at 5pm on Wednesday.
However after three hours of deliberations the members were seen filing out of the auditorium of the Federal Ministry of Finance venue of the meeting.
Last month, the meeting ended with news that the Excess Crude Account (ECA) had been seriously depleted to about $71milion.
Also within the month, it was disclosed that about 50 crude oil -bearing tankers are stranded at sea because of the coronavirus pandemic.
The federal government has hinted that it will review the 2020 budget parameters to accommodate the difficult realities brought on the world economies by the scourge of coronavirus.
If the deadlock persists beyond this week, civil servants across the country may have to wait longer to get their March 2020 salaries.
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