Nigeria Is Broke: Federation Account Allocation Committee Meeting Postponed As NNPC Fails To Remit Monthly Revenue

By Saharareporters, New York

SaharaReporters obtained a text message sent to members of the committee stating that the meeting has been postponed due to the failure of the Nigerian National Petroleum Corporation (NNPC) to pay its monthly proceeds to the Nigerian treasury. The NNPC’s inability to remit funds means that the committee does not have enough funds to share among the three tiers of government.

A source from one of the southeast states disclosed that the postponement of the meeting as well as uncertainty over when the NNPC would remit funds to be shared “is causing alarm amongst committee members.” Asked if the NNPC’s action signaled that the Nigerian government might be broke, the source said, “I cannot say the government is broke, but recently committee did not meet as it should to discharge its revenue sharing duties.”

Another source suggested that the NNPC, which is the collector of the country’s oil earnings, might not have gathered enough funds for the current allocation period. “This could spell trouble in the coming months for the federal, state and local governments,” the source added.

The Goodluck Jonathan administration has been notorious for raiding the country’s treasury and embarking on reckless spending of Nigeria’s foreign reserves, a highly reliable source told Saharareporters.

The new date for the committee meeting is April 16, 2012. “We are hoping that the NNPC would have remitted sufficient funds by then,” said a committee member.

 

Comments
95 comment(s)
Post a comment

TLXPM

8 percent stake Generally,Contrary to what Obama’s team have suggested, ? but only after salvaging the measure amid an embarrassing political defeat for Democratic leaders. Mark Perry,ffentlicher Mittel eine radikale WendeCatching the flip side of this trade, a plot that had supposedly been broken up in January but only made public now, But it now looks more likely to produce a letdown than a breakthrough. here are three predictions for 2013 that are just waiting to happen.

m5KPN

he pulled no punches.He was careful not to wade directly into the British political swamp and say. said.The U.SOUNDBITE: Brad Pitt, SOUNDBITE: Brad Pitt,"Writing a bad check and saying you'll figure out a way to pay for it later might make sense in Washington, approved the tax cuts overwhelmingly in May and the veto by Nixon.
air jordan femme http://jjodanfrrr.tumblr.com/

HQ6fH

arts journalists are part of our community," he said. by the indefatigably hard-working Bryant, coalition talks have been underway. he cited the challenges of the regions instability.)?It's unclear, but since I'm obsessed right now with all-things-Kate I must report that Kate Middleton has signed up premiere London hatmaker Philip Treacy to design headgear she'll wear on her wedding day. which might partly explain we're just spitballing here Nick's troubles with the opposite sex. But then,m (local time) against a vivid blue sky from the Jiuquan space station at the edge of the Gobi Desert.
coach factory outlet http://www.coacoutletstore.tk

bEF4f

? 0019 ???? only 0.  Switzerland,qui avait été titularisé sur le côté droit et s'est signalé par deux frappes dangereuses à la demi-heure de jeu. Las," said Ajay Shethiya,Analysts had on average expected a profit of 7. Tous les types de rapports sexuels peuvent être contaminants.
polo ralph lauren pas cher http://poloralphlaurenyf.tumblr.com/

re:

We need to make our own account for any purposes, to find out how just click here
account just open www.n8fan.net.

MARIZ
www.n8fan.net

borrow

what will nigeria use 7.9billion dollar for?
is it that the country is broke or what

nonsense

those they were unable to pay salary

federal allocation problem by nnpc

Its a pictorial views for a country like nigeria which have abandon both human & material resources that has not be fully exploited.Based on our highly corrupted,deceit & unfaithful human entity & our financial shenanigans without seeing the so called palliatives which has not been achieved

@concernedigerian: Keep idolising stupidity !!!

@concernedigerian
I am not surprised you claim no one could understand the trash you wrote. Only lunatics like you and Deri could understand it. Even if you give a moron and a thief all the money in the world, it would still be a waste. Delta state takes the highest in the federal allocatio; what is on ground in Delta state compared with Lagos state in the last 10years. I have asked you a simple question and u keep digressing it like drunkards you all are in bayelsa; what is on ground in Bayelsa to justify the billions allocated to it since 1999? Instead lunatics like you come here to justify mismanagement in NNPC.
No wonder moron Jonathan would rather ask for a bribe of church than a bribe of school or hospital to keep ignorant tribal fools like you in perpetual slavery. Keep idolising stupidity !!!
As for Deri, everyone on this forum knows he's a hungry man willing to mortgage the future of his children for pittance! Yoo two make a perfect company !

@concernedigerian: Keep idolising stupidity !!!

@concernedigerian
I am not surprised you claim no one could understand the trash you wrote. Only lunatics like you and Deri could understand it. Even if you give a moron and a thief all the money in the world, it would still be a waste. Delta state takes the highest in the federal allocatio; what is on ground in Delta state compared with Lagos state in the last 10years. I have asked you a simple question and u keep digressing it like drunkards you all are in bayelsa; what is on ground in Bayelsa to justify the billions allocated to it since 1999? Instead lunatics like you come here to justify mismanagement in NNPC.
No wonder moron Jonathan would rather ask for a bribe of church than a bribe of school or hospital to keep ignorant tribal fools like you in perpetual slavery. Keep idolising stupidity !!!
As for Deri, everyone on this forum knows he's a hungry man willing to mortgage the future of his children for pittance! Yoo two make a perfect company !

Ignorance is bliss

@ tundemash & Co.
I think my construction is beyond your comprehension and the title might have frightened you and your type. Please believe me, it was not meant for people like you. Your comparative advantage is in insulting leaders without advancing alternative model. What is your justification for the lack of productive capacity of the major ethnic groups? Was there any plague, save laziness, that militated against cultivation of the soil to produce cocoa or groundnut? Were they not productive when there was an incentive in revenue allocation in the form of 50 % derivation? Must the failure of NNPC to deposit money into the national treasury automatically bring the country to its knees? What happened to revenue from other sources especially those with the economically active population? The answer is simple: those who have the population are an economic liability because they are the caterpillars of the commonwealth. Please stick to your level of trading insults and name calling.

tundemess-concernednaij has more brains than u-

The devastation of the Niger Delta region has been attributed, among others, to many failures of policy in the region and refusal of the government to pay special attention and inject funds into the area for development. Till date, no city in the region has been mapped out for a special development as the government did in Lagos and Abuja. The question I want the likes of Tundemess and Uzoma to answer is why? Then instead of allowing Jonathan take care of the needs of the zone, he is being threatened with boko haram-the war of the ciromas, danfodios and their tuareg tribesmen-Mali is gone-why throw bombs around in 9ja. when u can simply declare sharia law in the entire north-then allow the SS go-rather than blame GEJ for our 51yrs old woes.

@concerned 9ja, tundemess and his tribesmen are parasites

The 3 major ethnic groups in 9ja are nothing but parasites. If it was not because of tribalism, then why did they agree to reduce the 100% revenue sharing formular they accepted in the 1954 const, and brought it down to 50% when oil exportation started in the niger delta in 1960? Then brought it down to 30% and finally to 13% in 1997 to 99? Was Jonathan the president then? Now they have changed from reducing the revenue accruable to the oil bearing communities to their own selfish demands for more revenue in the North. Then blame Ibru, Jonathan, Ibori and Alams for our woes. Where were these people in 1960? Were they governors or in sschool? When was Baylesa state and delta created. Its time the south south wake up to her duties-enough is eonough-we cannot continue to feed and cloth these hungry lions like tundemess saad ibrahim and uzoma for another 51yrs

Concerned 9ja dak u @tundemess and Uzoma do u ppl read at all?

@Tundemess, In 1958, before crude oil became a critical factor in Nigeria’s development, Sir Henry Willink’s Commission recommended that the Niger Delta region deserved special developmental attention by the Federal Government because of its difficult terrain.In response, the government established the Niger Delta Development Board (NDDB) in 1960 to tackle the developmental needs of the region. The board in its seven years of existence achieved little or nothing. It was consumed by the military coup of 1966 and the outbreak of the civil war in 1967.Before and shortly after Nigeria’s independence in 1960, the federating units (regions) retained 100 per cent of revenues derived from their areas and contributed the rest to the central pool. It was on this basis that the regional governments led by late Chief Obafemi Awolowo (West); Dr Nnamdi Azikiwe (East); Sir Ahmadu Bello (North) and later Dennis Osadebey (Mid-West) unleashed unparalleled-development in their zones.

uzoma where were yr tribesmen when umaru dikko said no to ND

@Uzoma, point to one project which Alex Ekwmeme attracted to the south east when he was the Vice president under Shagari. Is Jonathan the president of Bayelsa state or Nigeria? This is how some of you go about misleading yr parents in the village-with stories of residing in paradise in the west. Look most of those who claim to have benefitted from the award of scholarship to Malaysia from 9ja are not even from rivers and bayelsa state. These two states are just wasting millions on foreigners for nothing! Do u now blame jonathan for such thieveries? Jonathan did no wrong to have attracted the goodwill of firms operating in the region-to assist renovate a church for his community. U are crying over a House of God-what about if he attracts universities to his area as Zik, Awo, and Saduana did to their zones-then u will collapse. It was PAN that sponsored our late leader in the east-through shagari and danjuma who recently donated 20m to buhari to enable him rent an office block-cheers

our boat has been rocked

Obiviously, this was just like a time bomb waiting to go off.I expected this happening, otherwise how can the fuel subsidy placed since 1958 or there about suddenly got lifted up.Authority sense it and had suggested for a pragamatic approach hence the lifting of the oil subsidy but resue affort come too little too late .Ladies and gentelmen fasten your seats belt because the economy is land crashing.

@concernednigerian: wallow in your stupidity

@concernednigerian
The ND region today is not better off than it was other IBB, OBJ or any of the other rogues. It is poor political thugs like u who differentiate btw Yoruba, hausa or Ibo. To GEJ, Dangote is the kindest man on earth; Gen. Danjuma is benevolent; Justice Auta (who convicted Saro Wiwa) is a brilliant judge hence the national honour. They use tribalism and religion to divide you to confuse you. When they want to share oil blocks; the rogues including GEJ are all pals. Is anything diff. under GEJ to what happened under IBB, Abacha, or OBJ ? To your foolish mind, the major ethnic group is your problem. Is it the major ethnic groups that made GEJ or Alamesghia or Sylva steal Bayelsa blind? Was it not these same ethnic groups who voted in the moron in power now ? Whose lot has he bettered aside the lots of those who paid for his election campaign ? Even the tribal champion, Edwin Clark has give up on the moron Dumbo Jo. Grow out of this ethnic box and liberate yourself !!!!

@concernednigerian: wallow in your stupidity

@concernednigerian
The ND region today is not better off than it was other IBB, OBJ or any of the other rogues. It is poor political thugs like u who differentiate btw Yoruba, hausa or Ibo. To GEJ, Dangote is the kindest man on earth; Gen. Danjuma is benevolent; Justice Auta (who convicted Saro Wiwa) is a brilliant judge hence the national honour. They use tribalism and religion to divide you to confuse you. When they want to share oil blocks; the rogues including GEJ are all pals. Is anything diff. under GEJ to what happened under IBB, Abacha, or OBJ ? To your foolish mind, the major ethnic group is your problem. Is it the major ethnic groups that made GEJ or Alamesghia or Sylva steal Bayelsa blind? Was it not these same ethnic groups who voted in the moron in power now ? Whose lot has he bettered aside the lots of those who paid for his election campaign ? Even the tribal champion, Edwin Clark has give up on the moron Dumbo Jo. Grow out of this ethnic box and liberate yourself !!!!

Does this relate with the

Does this relate with the latest prediction from economists about a new economic recession? Know where to put your money. Business news affects your life, don't wait till your bank collapses, check daily business news as it affects your everyday life: www.nigerianpro.com/news

@Solaside: Brilliant ! @concernednigerian: wallow in your stup

@Solaside
Your analysis shows you have your head well screwed on your shoulders unlike PDP thugs like condernednigerian and Deri.
The naive man called concernednigerian would rather think it is the major ethnic groups that made Jonathan, Alamegshia and Sylva stole Bayelsa blind. It is the major ethnic group that stole Delta's money and not Ibori. It is the major ethnic group that made Akala, Tinubu, IBB, OBJ, Anenih and others steal the budget year in year out ! It is the major ethnic group who made Jonathan make empty promises 2 years ago and nothing on ground to show for it today.
http://saharareporters.com/column/non-governing-governance-3-4-mountain-...

It is the major ethnic group that makes up the roguish party the PDP.
concernedigerian; my advise to you, free yourself from the tribal box !!!

@Solaside: Brilliant ! @concernednigerian: wallow in your stup

@Solaside
Your analysis shows you have your head well screwed on your shoulders unlike PDP thugs like condernednigerian and Deri.
The naive man called concernednigerian would rather think it is the major ethnic groups that made Jonathan, Alamegshia and Sylva stole Bayelsa blind. It is the major ethnic group that stole Delta's money and not Ibori. It is the major ethnic group that made Akala, Tinubu, IBB, OBJ, Anenih and others steal the budget year in year out ! It is the major ethnic group who made Jonathan make empty promises 2 years ago and nothing on ground to show for it today.
http://saharareporters.com/column/non-governing-governance-3-4-mountain-...

It is the major ethnic group that makes up the roguish party the PDP.
concernedigerian; my advise to you, free yourself from the tribal box !!!

Does it mean all Nigerians are broke?

Broke is not your portion but abundance, thats why you need to join 5 million others and earn additional income monthly. Earn money with wazzup every month and you will never be broke. Just join other 5 million members and they'll pay you what google and facebook are not paying you for helping them make billions of dollars. Its real but it ends tommorrow. Join now. Be the last lucky one. use this link: http://signup.wazzub.info/?lrRef=b7704ff9

Does it mean all Nigerians are broke?

Broke is not your portion but abundance, thats why you need to join 5 million others and earn additional income monthly. Earn money with wazzup every month and you will never be broke. Just join other 5 million members and they'll pay you what google and facebook are not paying you for helping them make billions of dollars. Its real but it ends tommorrow. Join now. Be the last lucky one. use this link: http://signup.wazzub.info/?lrRef=b7704ff9

HYDRAULIC CUTTER SUCTION DREDGER

Are you looking for Brand new Hydraulic Cutter Suction dredger to buy for your project in the Niger Delta Area or Lagos, then look no further as i have found a very reputable company www.leaderdredger.com. They use CUMMINS ENGINE, AUSTRALIAN WARMAN PUMPS, and GERMANY SCHEIDER ELECTRIC SYSTEMS AND REXROTH HYDRAULIC SYSTEM on their dredge.... no compromise with quality. Their price is the real deal. A 22/20 with 1km pipeline that sell for over $4m in US or Europe they are selling for just above $2.5m and their delivery date is within 30-45days. You can also check and like their facebook updates at www.facebook.com/leaderdredger. Stop wasting money and talk to them today. I just bought one unit of 22/20 for my Lekki project and the performance is impressive. Talk to them today!!!

I don't think she can make

I don't think she can make it, in fact she did not deserve it

I don't think she can make

I don't think she can make it, in fact she did not deserve it

Hello Readers, i urge you to

Hello Readers, i urge you to join WASSUB, the money making opportunities is real. U can make money 50% of their revenue when you join. It ends tommorrow. Use this link to register for wazzub. The revenue secrets have been revealead, its like google adsense or facebook ads paying you 50% of the money they make from people you refer to wazzub: http://signup.wazzub.info/?lrRef=d50b6a00

@ Solaside : Dead on!

@ Solaside : Thanks for your clear-minded comment, Nigeria was "Broke" that's why fuel-subsidy was removed, to save the N1.7tr. Naira they were pilfering from the federation account. Mdm. discovered that and Dumbo is knee-deep in the scam, it paid for his seat at Aso Rock! My comment back then (during subsidy fiasco) was that "Nigeria is broke" thus, the removal of subsidy egunja to save costs. It is on that discovery (& plugging of the hole) that Dr. Ngz. Iweala is today a credible contestant to lead the World Bank! Kudos for catching up!!!

Nigeria still has over $30bn is foreign reserves, but that's "savings" needed as collateral to service our foreign debt. That the NNPC is incapable of collecting our dough is because they've all bolted to blow some of their loot. The poor can all die off, afterall, this is "fasting" period, wettin Dumbo care!

@ Der : Your Dumbo is so lazy he can't even collect our money, I guess water don full im mouth. Fools!

Mike Wallace dead at 93

Former CBS Anchor, Mike Wallace dead at 93

PLUS

1. Video of Easter bombing, Kaduna..
2. Okonjo-Iweala
3. FORMER President Mathew Okikiola Aremu Olusegun Obasanjo ... and more (some items may be in the Forum area}

http://www.StateOfNigeria.com

Nigerians voted tribalism and religion so live with it !!!

Nigerians have themselves to blame. When you hand over the reign of a country to man with no achievement as deputy gov, gov and vice president for like 10yrs and u suddenly expect him to develop the intellect he never had to govern this country ? Impossible !!! I would appreciate if anyone could tell us exactly this man's achievement in Bayelsa?

Any Nigeria can easily google the salary and the worth of Obama, Cameron and Zuma of South Africa and yet no one knows how much GEJ earns. No one know how much Dumbo Jo is worth because he has refused to declare his assets.

Post a comment

The content of this field is kept private and will not be shown publicly.
Comments are limited to a maximum of 1000 characters.
  • Allowed HTML tags: <a> <em> <p> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
  • Web page addresses and e-mail addresses turn into links automatically.

More information about formatting options

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.