The Federal Government has described as untrue and sad, comment by Godwin Obaseki, Governor of Edo, that N60 billion was printed in March to support allocations to states.
CRIMECHANNELS gathered that the Minister of Finance, Budget and National Planning, Zainab Ahmed said this while answering questions from state house correspondents, on Wednesday, April 14.
It could be recalled that Governor Obaseki during a stake holders meeting in Benin, Edo State said that Nigeria is in financial crisis, alleging that the Federal Government had to print about 60 billion naira to share to states.
Reacting further, the Federal Government described the Obaseki’s alarm over the nation’s borrowing as needless, saying Nigeria’s debt profile is still within sustainable limits.
She said, “The issue that has been raised by the Edo State Governor, for me, is very sad because it is not in a fact. What we distribute at FAAC is a revenue that is generated and in fact distribution revenue is a public information, we publish it.”
“So it’s revenue generated by the FIRS, the Customs and the NNPC, that 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 limits. 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 obligations, 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. You can look at all the reports that you see from multilateral institutions, those facts are stated, “she said.
