The monthly Federation Account
Allocation Committee meeting on Wednesday ended inconclusively.
The
Director of Information, Ministry of Finance, Budget and National Planning, Mr.
Hassan Dodo announced this after the meeting in Abuja.
He
said, “Gentlemen of the press, there is not going to be usual briefing today
because the meeting is inconclusive.”
The director did not
give any reason for not concluding the FAAC monthly meeting.
News Agency of Nigeria reports that
the FAAC meeting, which was well attended by members, lasted for several hours.
Financial
experts had predicted a low revenue for February and March owing to the
outbreak of coronavirus, which had affected oil prices across the globe.
The
International benchmark Brent crude traded at 26.01 dollars on Wednesday and
fell to its lowest level since September 26, 2003.
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