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FG battles Obaseki over claim on printing of N60bn

The federal government has slammed Godwin Obaseki, the governor of Edo, for claiming that N60 billion was printed in March to fund federal allocation to states.

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FG battles Obaseki over claim on printing of N60bn

The federal government has slammed Godwin Obaseki, the governor of Edo, for claiming that N60 billion was printed in March to fund federal allocation to states.

While answering questions from State House correspondents on Wednesday Zainab Ahmed, the minister of economy, budget, and national planning, said Obaseki’s claim is false.

“The issue that was raised by the Edo State Governor, for me, is very sad because it is not a fact.

“What we distribute at FAAC is revenue that is generated and in fact, distribution revenue is a piece of public information.

“We publish revenue generated by FIRS, the Customs and the NNPC and we distribute at FAAC.

READ ALSO: By the end of the year, Nigeria’s borrowing is going to be in excess of ₦16 trillion__ Obaseki

 

“So, it is not true to say we printed money to distribute at FAAC. It is not true.”

On the issue of borrowing, the minister added, “Nigeria’s 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 serve the needs of running the 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.”

 

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