Minister Says Govt Did Not Print N60b to Support March Allocation to States




Finance & Budget Minister, Zainab Ahmed


The Federal Government has said it did not print N60billion to support March allocation to States as alleged recently by the Edo State Governor, Godwin Obaseki

The Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed this on Wednesday in Abuja adding that Obaseki’s allegation was not only untrue but sad.

Obaseki had said: “When we got FAAC (Federal Account Allocation Committee) for March, the government printed additional N50-N60 billion to top-up for us to share.

“This April, we will go to Abuja and share. At the end of this year, our total borrowings is going to be within N15-N16 trillion.”

However, Ahmed insisted that Nigeria’s debt is still within sustainable limit and efforts are on to improve revenue generation capacity.

According to Ahmed , “What we distribute at FAAC is revenue that is generated and in fact distribution revenue is public information. We publish revenue generated by FIRS, the customs and the NNPC and we distribute at FAAC.