FG Finally Releases Details Of N516bn Paris Club Refund to States
The schedule showed how the first tranche of N516.38bn was shared among the federating units.
The federal government (FG) on Friday released the schedule of reimbursement made to the 36 states of the federation from the Paris Club debt refund.
The schedule showed how the first tranche of N516.38bn was shared among the federating units.
According to the schedule, five states got significantly more than the rest. They are Rivers N34.92bn, Delta N27.6bn, Akwa Ibom N25.98bn, Bayelsa N24.89bn and Kano N21.7bn.
The five states between them got a total sum of N135.09bn, representing 26.1 percent of the entire amount.
This was followed by Lagos N16.74bn, Katsina N16.4bn, Kaduna N15.44bn, Borno N14.68bn, Jigawa N14.2bn, Imo N14.01bn, Niger N14.42bn, Bauchi N13.75bn, Sokoto N12.88bn and Osun N12.62bn.
Others are Cross River N12.15bn, Anambra N12.24bn, Edo N12.18bn, Kebbi N11.95bn, Kogi N11.05bn,Abia N11.43bn, Ogun N11.47bn, Plateau N11.28bn.
Yobe state got N10.82bn, Zamfara N10.88bn, Ebonyi N9.01bn, Ekiti N9.54bn, Enugu N10.7bn, Gombe N8.95bn, Nasarawa N9.1bn, Oyo N13.31bn while Kwara got N10.24bn.
The rest are Adamawa N10.25bn, Benue N13.7bn, Ondo N14.01bn, Taraba N9.32bn and Federal Capital Territory N1.36bn.
The statement signed by the Director of Information in the finance ministry, Salisu Dambatta, said the payments were ordered by President Muhammadu Buhari.
It reads in part, “The funds were released to state government as part of the wider efforts to stimulate the economy and were specifically designed to support states in meeting salary and other obligations, thereby alleviating the challenges faced by workers.
“The releases were conditional upon a minimum of 50 percent being applied to the payment of workers’ salaries and pensions. The Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by state governments.
“A detailed report is being compiled for presentation to the Acting President, Professor Yemi Osinbajo, as part of the process for approval for the release of any subsequent tranches.”