The Federal Government, (FG) on Wednesday has replied Edo State governor, Godwin Obaseki on his claims that FG printed additional N60 billion to augment March’s federal allocation to states.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed told State House correspondents that Obaseki’s claim is untrue.
She described the claims made on N60 billion additional allocation by Governor Obaseki as a sad pronouncement that is not based on fact.
He statement reads, “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 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. So, it is not true to say we printed money to distribute at FAAC, it is not true.
“On the issue of borrowing, the Nigerian debt is still within a 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 a 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.”
“So, it is not true to say we printed money to distribute at FAAC, it is not true,” she said.
It would be recalled that Gov Godwin Obaseki had on Saturday told the Edo transition committee stakeholders that the Federal government printed additional N60 billion to augment March allocation.
His word reads, “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.”
