The recent boycott of the Federal Account Allocation Committee (FAAC) meeting by state governors has disrupted the timely payment of workers’ salaries and other critical financial obligations across states.
Sources say the governors abstained from the meeting on Wednesday, February 19, 2024, in protest over an unresolved dispute with the Nigerian National Petroleum Company (NNPC) Ltd regarding N1.7 trillion in unpaid remittances. The outstanding funds have been pending since the removal of the petrol subsidy by the federal government.
According to Leadership, when contacted on Thursday, an official from the Office of the Accountant-General of the Federation confirmed that the issue had been resolved and that a formal communique would be released.
Later that day, the federal government, states, and local government areas announced the disbursement of N1.703 trillion in federation account revenue for January 2025.
