Abuja – The Minister for Finance, Mrs Kemi Adeosun, says the Federation Accounts Allocation Meeting (FAAC) ended in a deadlock on Wednesday in Abuja, because the figures proposed by the NNPC were unacceptable.
A statement issued by Mr Oluyinka Akintunde, her Special Advise, Media and Communications, said Adeosun gave this explanation on Thursday in Abuja, at the 89th Meeting of the National Economic Council (NEC).
The minister said that in her capacity as the Chairman of FAAC, she briefed the governors on the deadlock in the Federation Account in May.
She also said that the Nigerian National Petroleum Corporation (NNPC), was operated as a business and returns were expected from it.
“I gave an account that I give every month on the balances in our Excess Crude Account (ECA) and the Stabilisation Account.
“Items to note in the ECA are…
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