The Federal Government has vehemently denied comments by Governor Godwin Obaseki that N60 billion was printed to augment the amount distributed to states in March 2021.
The Edo State Governor had at the Edo transition committee stakeholders engagement on Saturday stated that the money was shared at the Federation Account Allocation Committee (FAAC) meeting.
“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,” he had said.
Reacting to Governor Obaseki’s comment, the Minister of Financial, Budget and National Planning, Hajiya Zainab Ahmed, denied the governor’s allegation.
She also justified the FG borrowings despite the concern expressed by Obaseki on the country’s rising debt profile. According to her, the nation’s debt is still within sustainable limits.
“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.
“On the issue of the borrowing, the Nigerian 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.”
Ogbodo ThankGod is currently the Managing Director/CEO/Group Chief Editor at Naija Buzz News Network. He was the Chief Editor at NaijaBuzz.News before his new top leadership role. Ogbodo has years of experience in the Nigeria Media Industry and has co-founded some media companies. He is the founder of Ogbodo Solution Nigeria and 1Push.Ng. He loves playing football and is a strong supporter of Lionel Messi who he describes as the greatest footballer of all time.