FAAC Post Mortem Subcommittee Holds 3 Day Retreat In Asaba
The Delta State Government has recommended the timely disbursement of funds from the federation account to States to enable them maximize their economic potential.
Governor Sheriff Oborevwori made the recommendation while declaring open the 3 day retreat of Federation Account Allocation Committee (FAAC) Post Mortem Sub-Committee held at the Unity Hall, Government House Asaba.
The Governor, who was represented by the Secretary to the State Government (SSG), Dr. Kingsley Emu recommended that the Committee should ensure that all funds generated are to paid to the federation account promptly and application of right sharing formula, timely disbursement of funds from the federation account, adequate monitoring of such funds in and out of the Federation Account and the transparent rendition of funds accruable to the federation in line with the constitution and extant provisions, amongst other procedures.
Governor Oborevwori said that the theme of the retreat “Efficient Management Of Federation Account “was apt and timely, noting that it was carefully selected considering that State governments needed more funds to deliver the dividends of democracy to the people.
He said the retreat would afford the FAAC post mortem subcommittee to review past records, especially from January 2021 to December 2023, and ensure that all areas of revenue not captured are identified and also to avail the Committee the opportunity to look at the areas that needed improvement.
He expressed delight that Delta State being a major oil producing State that has contributed immensely to the federation account, was hosting the FAAC retreat and it was an opportunity for the State to interact with the managers of the account.
The Chairman of the FAAC Post Mortem Sub- Committee, Alhaji Kabir Mashi, said the retreat will, among other actions, brainstorm on how to embrace digitalization and avoid wastages or leakages in the management of the federation account.
In their remarks, the Commissioner for Finance, Chief Fidelis Tilije, who represented the Minister of Finance, Mr. Wale Edun, the Director General of the Nigeria Governors Forum, Dr. Abdullatif Shittu represented by Dr. Akanbi Olubumi as well as the Chairman of the Revenue Mobilization Allocation and Fiscal Commission, Mr. Muhammed Bello Shehu amongst other dignitaries called for a stronger fiscal system, transparency and accountability in the management of the nation’s scarce resources to the benefit of all.
