The biting economic crisis in the country is not abating as the Federal Government on Wednesday called off the November edition of the Federal allocation account committee meeting which was slated for Abuja.
Sources told the Nigeria Politics Online that representatives of all the 36 states had arrived in Abuja for the monthly meeting where funds accruing to the government are shared for the purpose of allocations to different projects.
However Accountants Generals of states, commissioners and other statutory members of the meeting got to the meeting only to be informed that the meeting would not hold because there was no money to share.
The funds to be shared monthly are those accruing from the sales of crude oil which Nigeria’s main source of revenue. Others include revenues from taxes, levies, dues revenues from the ports, customs, and others.
The sale of oil had faced serious challenges in the international market due to a glut.
Many states of the federation had found it hard to meet basic obligations such as payment of salaries and pensions while many capital projects are at standstill.
The country is heading for another labour crisis as governors across the country aim at cutting costs by reducing salaries and other payments.
The source which told the Nigeria Politics Online correspondent in Abuja said “we only got here to be told there is no money to be shared. We had expected that at least the Ministry of Finance would have deemed it fit to inform us ahead so there would be no need to travel down only to be told there is no money to be shared.