32 C
Lagos
Saturday, May 15, 2021
More

    Obaseki Lied On Alleged N60bn Printed In March – FG

    Must Read

    India’s Interfaith Volunteers Help Farewell COVID-19 Victims

    Suneet Sharma has calmly staged dozens of funerals each day of India’s resurgent coronavirus crisis — but he was...

    Unite Against Terrorism, kidnapping, Banditry – Buhari Tells Religious Leaders

    Unite Against Terrorism, kidnapping, Banditry – Buhari Tells Religious Leaders President Muhammadu Buhari has urged religious leaders to unite and...

    Fears Over 2023 Election As Fire Guts 19 INEC offices In Two Weeks

    AT least, 19 offices of the Independent National Electoral Commission have been gutted by fire in the last two...

    The Federal Government has denied it printed N60bn to augument March allocation to States as alleged by Edo Governor Godwin Obaseki.

    The Minister of Finance, Zainab Ahmed responded to the issue on Wednesday, after questions from state house correspondents.

    Yans had reported last week that Obaseki raised the alarm over Nigeria’s financial position which he said made the CBN print about N60billion to augment allocation shared by states in March.

    “When we got FAAC for March, the Federal Government printed additional N50-N60 billion to top-up for us to share.

    “This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion,” Obaseki had lamented over the weekend.

    However, in her response, Ahmed said, “The issue that was raised by the Edo State Governor for me is very, very sad. Because it is not a fact. What we distribute at FAAC is a revenue that is generated and in fact distribution revenue is a public information. We publish revenue generated by FIRS, the customs and the NNPC and we distribute at FAAC. So, it is not true to say we printed money to distribute at FAAC, it is not true,” she said.

    On the issue of borrowing, the minister added, “Nigeria’s debt is still within sustainable limit.

    “What we need to do as I have said several times is to improve our revenue to enhance our capacity to service, not only our debt, but to service the needs of running government on day-to-day basis.

    “So, our debt currently at about 23% to GDP is at a very sustainable level, if you look at all the reports that you see from multilateral institutions.”

    - Advertisement -

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    - Advertisement -

    Latest News

    India’s Interfaith Volunteers Help Farewell COVID-19 Victims

    Suneet Sharma has calmly staged dozens of funerals each day of India’s resurgent coronavirus crisis — but he was...
    - Advertisement -

    More Articles Like This

    - Advertisement -