Paris Club Refund: FG Releases Another Tranche of N243.8bn To States

Cat:

Related stories

Former Football Star and Associates Nabbed in Major Drug Bust at Lagos Airport

By Abiola Olawale The National Drug Law Enforcement Agency (NDLEA)...

Ganduje’s Successor: Forum makes Case for Al-Makura

By Kolawole Ojebisi The North-Central All Progressives Congress, APC, Forum...

Akume Reacts To Sack Rumour, Says Mischief Makers At Work

By Kolawole Ojebisi Secretary to the Government of the Federation...

2027: Why Northeners Shouldn’t Work Against Tinubu’s Re-election Bid — Shehu Sani

By Kolawole Ojebisi A former senator and human rights activist,...

The Federal Government has released a state-by-state breakdown of another tranche of N243.8 billion Paris Club refund of over-deductions on Paris Club, London Club Loans.

The Minister of Finance, Mrs Kemi Adeosun in a statement on Tuesday, said that the debt service deductions were in respect of the Paris Club, London Club and Multilateral debts of the Federal and States Governments between 1995 and 2002.

According to sources recall that President Muhammadu Buhari had approved the release of N522.74 billion as first tranche of payment to states.

“These payments, which totaling N243, 795,465,195, were made to the 36 states and the Federal Capital Territory upon the approval of the president on May 4, 2017.

“This is in partial settlement of long-standing claims by states governments relating to over-deductions from Federation Accounts for external debt service arising between 1995 and 2002.

“The funds were released to states governments as part of the wider efforts to stimulate the economy and were specifically designed to support states in meeting salaries and other obligations, thereby alleviating the challenges faced by workers.

“The releases were conditional upon a minimum of 75 per cent being applied to the payment of workers’ salaries and pensions for states that owe salaries and pension.

“The Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by states governments.

“A detailed report is being compiled for presentation to the Acting President, Prof. Yemi Osinbajo, as part of the process for approval for the release of any subsequent tranches,” she said.

A breakdown of the payment, showed that Abia got N5.72 billion, Adamawa N6.11 billion, Akwa Ibom N10 billion, Anambra N6.12 billion, Bauchi N6.88 billion, Bayelsa N10 billion, Benue N6.85 billion, and Borno N7.34 billion.

Cross River got N6.08 billion, Delta N10 billion, Ebonyi N4.51 billion, Edo N6.09 billion, Ekiti N4.77 billion, Enugu N5.36 billion, Gombe N4.47 billion,  Imo N7 billion, Jigawa N7.11 billion, and Kaduna N7.72 billion.

Kano got N10 billion, Katsina N8.2 billion, Kebbi N5.98 billion, Kogi N6.03 billion, Kwara N5.12 billion, Lagos N8.37 billion, Nasarawa N4.55 billion, Niger N7.2 billion, and Ogun N5.7 billion.

The others were Ondo N7 billion, Osun N6.3 billion, Oyo N7.9 billion, Plateau N5.64 billion,  Rivers N10 billion, Sokoto N6.44 billion, Taraba N5.61 billion, Yobe N5.41 billion, Zamfara N5.44 billion, and the Federal Capital Territory N684 million.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

[tds_leads input_placeholder="Your email address" btn_horiz_align="content-horiz-center" pp_msg="SSd2ZSUyMHJlYWQlMjBhbmQlMjBhY2NlcHQlMjB0aGUlMjAlM0NhJTIwaHJlZiUzRCUyMiUyMyUyMiUzRVByaXZhY3klMjBQb2xpY3klM0MlMkZhJTNFLg==" pp_checkbox="yes" tdc_css="eyJhbGwiOnsibWFyZ2luLXRvcCI6IjMwIiwibWFyZ2luLWJvdHRvbSI6IjQwIiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tdG9wIjoiMTUiLCJtYXJnaW4tYm90dG9tIjoiMjUiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3NjgsImxhbmRzY2FwZSI6eyJtYXJnaW4tdG9wIjoiMjAiLCJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sImxhbmRzY2FwZV9tYXhfd2lkdGgiOjExNDAsImxhbmRzY2FwZV9taW5fd2lkdGgiOjEwMTksInBob25lIjp7Im1hcmdpbi10b3AiOiIyMCIsImRpc3BsYXkiOiIifSwicGhvbmVfbWF4X3dpZHRoIjo3Njd9" display="column" gap="eyJhbGwiOiIyMCIsInBvcnRyYWl0IjoiMTAiLCJsYW5kc2NhcGUiOiIxNSJ9" f_msg_font_family="downtown-sans-serif-font_global" f_input_font_family="downtown-sans-serif-font_global" f_btn_font_family="downtown-sans-serif-font_global" f_pp_font_family="downtown-serif-font_global" f_pp_font_size="eyJhbGwiOiIxNSIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_weight="700" f_btn_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTEifQ==" f_btn_font_transform="uppercase" btn_text="Unlock All" btn_bg="#000000" btn_padd="eyJhbGwiOiIxOCIsImxhbmRzY2FwZSI6IjE0IiwicG9ydHJhaXQiOiIxNCJ9" input_padd="eyJhbGwiOiIxNSIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMCJ9" pp_check_color_a="#000000" f_pp_font_weight="600" pp_check_square="#000000" msg_composer="" pp_check_color="rgba(0,0,0,0.56)" msg_succ_radius="0" msg_err_radius="0" input_border="1" f_unsub_font_family="downtown-sans-serif-font_global" f_msg_font_size="eyJhbGwiOiIxMyIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_size="eyJhbGwiOiIxNCIsInBvcnRyYWl0IjoiMTIifQ==" f_input_font_weight="500" f_msg_font_weight="500" f_unsub_font_weight="500"]

Latest stories

NDN
Latest News
Former Football Star and Associates Nabbed in Major Drug Bust at Lagos AirportGanduje's Successor: Forum makes Case for Al-MakuraTinubu's Trip To Saint Lucia Not Junketing But For Strategic Engagement With Caribbean Nations, Presidency Replies CriticsAkume Reacts To Sack Rumour, Says Mischief Makers At Work2027: Why Northeners Shouldn't Work Against Tinubu's Re-election Bid -- Shehu SaniRanked: Top 15 Countries by Military Budgets in 2025Charted: Ukraine Is Russia’s Third Deadliest WarUS government warns: Green Cards and Visas will be revoked if ...W'Bank Lists Nigeria, Ukraine, Mali, Libya, Others As Economies Where People Live On Less Than $3/DayGanduje's Resignation: APC Govs React, Say Move Part Of Internal EvolutionHow Nigeria Can Achieve Trillion-dollar Economy --- AfDB[Video] Jonathan Opens Up: How Yar'adua's Aide Withheld Handover Letter To Nat'l Assembly To Create ChaosGambari Mourns, Pays Heartfelt Tribute to Ex-Gov Cornelius Adebayo[Photos] Wike, Fubara, Amaewhule Reunite at Burial in Rivers, Signaling Peace After Tinubu’s MediationFLASH BACK: How Aminu Dantata, Dangote's Great Uncle, Wished For Death Almost 3 Years Ago
X whatsapp