Fund Sharing Impasse: Jonathan Met Governors On Monday

Fund Sharing Impasse: Jonathan Met Governors On Monday

Fund Sharing Impasse: Jonathan Met Governors On Monday

President Goodluck Jonathan met with the 36 state governors on Monday night over the stalemate in sharing of the accruals of the federation account in the past three months.

Earlier the finance commissioners of the states had walked out on the Minister of state for finance, Yerima Ngama three times on disagreements that had been generated over the sharing formula of the said accruals.

Constitutionally, the bulk of the fund, which is 52.80 percent, is accruable to the federal government while the states and the local government share 26.2 and 26 percent respectively.

Ahead of the meeting, President Jonathan and Vice President Namadi Sambo were neck deep in an audience with the governors of Delta, Emmanuel Uduaghan, Akwa Ibom, Godswill Akpabio, Abia, Theodore Orji and Katsina Ibrahim Shema, who arrived early at the Presidential villa.

 

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