President Muhammadu Buhari has agreed to intervene to resolve the crises between Nigeria Governors and the Nigeria National Petroleum Corporation, over non- remittances to the Federation Account Allocation Committee  (FAAC) in the month of June.
The Minister of Finance, Kemi Adeosun stated this after meeting with the President at the Presidential Villa, Thursday over the issue.
Three Governors of the All Progressives Congress (APC)  including Abubakar Badaru of Jigawa state, Abdulaziz Yari of Zamfara state and Abubakar Bagudu of Kebbi state and the Finance Minister had met with the Chief of Staff to the President, Abba Kyari, in respect of the issues on Thursday where the decision was taken.
President Muhammadu Buhari who is the substantive Minister of Petroleum Resources is expected to broker deadlock arising from the issue, according to BusinessDay Villa, sources.
The Minister had in her reaction after the FAAC deadlock last week, described the non- remittances by the NNPC as “ unacceptable” adding that the President will intervene to avoid salary delays for the month of June.

Speaking with State House Correspondents after the meeting, the Minister series of meetings had been held to resolve the issue.

“ Well, as you know last FAAC meeting ended in deadlock and since the. We have been having series of engagements between ourselves, the governors, the commissioners and of course the various stakeholders.

“Today’s meeting was for me to brief the governors and the chief of staff and by extension Mr. President on the progress we have made so far on our position. Mr. President has promised to take the next step and to that extent we are very satisfied.

She disclosed that the NNPC like every agency of government is in the TSA.

“You know FAAC is unique, FAAC is a meeting where all the revenue generating agencies make returns on net of the of their expenses.

“ The disputes is not on the gross revenue but on what has been deducted from that gross revenues giving us the net which is being brought into the FAAC.

“ But I think this is a healthy process. We must be satisfied with figures before we sign of on them.

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“We must as stakeholders make sure all our agencies are aligned with all the programmes of government in terms of getting this economy really moving.

“We are still very much dependent on oil, on NNPC for our revenue, so we do need to have sometimes some of this, I see them more as reconciliations than standoffs. I’m very sure we will have the FAAC in the next day or so.

The Governors see the consistent shortfall in the remittances by the NNPC as questionable forcing them refuse the ones made by NNPC to FAAC in the month of June.

The development compelled the committee headed by Adeosun to reject such remittances, thus resulting in the suspension of the monthly sharing of collectible revenues between the federal and state governments.

Speaking on the recent emergence  of the rAPC, in the APC, Governor Yari denied that their visit to the Villa had something to do with party matters, insisting that the leadership of the party was in the best position to answer the question.

“Our coming as APC governors has nothing to do with the APC. It is about the issues of finances and I think at that level, the party is in the best position to answer this question. Though, I am one of the pillars of APC, if I comment on that, I won’t be fair to the leadership of the party. So, it is the party that will handle that.

“Of course, I am worried but it is something the party will handle. You know with the approach of election, you will expect this kind of thing. You will expect crisis left, right and center, especially in a party with an overwhelming majority because of political interest. “The most important thing is that with the emergence of new leadership, everything will be resolved,” Yari said

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