The monthly Federation Accounts Allocation Committee, FAAC, meeting was held the other day in Abuja, with the representatives of state governments again cap in hand, asking for their share of federal revenue - read: oil revenue, or better still, national cake, or our money. A paragraph in the report by the online newspaper, Premium Times, caught my attention and here it is: "But at the Federation Accounts Allocation Committee, FAAC, meeting, representatives of the 36 state governments went home SAD (emphasis mine), as they were handed parlous shares from a total N299.75 billion statutory allocation for the month, the lowest allocations in more than five years." For the month of March 2016, the states shared N55.34 billion, compared to N64.52 billion in February 2016. I have deliberately emphasized the wordsad, because the day may well come when after the sharing of national revenue, we may be told that some Commissioners of Finance left the meeting crying, or wailing.
