From the above picture, it shows the break down of N243.8 billion released on Monday by the federal government to the 36 states of the federation and the Federal Capital Territory (FCT) as the second tranche of Paris Club refunds, Akwa Ibom, Bayelsa, Delta, Kano and Rivers got N10 billion each, making the five states the highest recipients of the refunds for over-deductions on Paris and London Club Loans and multilateral debts between 1995 and 2002.
A statement Tuesday by the Director (Information) in the Ministry of Finance, Salisu Na’Inna Dambatta, who confirmed that the second tranche of the Paris Club refunds had been released to all states and the FCT, added that the funds were released on the premise that a minimum of 75 per cent of the funds would be applied to the payment of workers’ salaries and pensions by states that owe salaries and pension.
The statement said Akwa Ibom, Bayelsa, Delta, Kano and Rivers States got N10 billion each, and were closely followed by Lagos and Katsina which got N8,371,938,133.11 and N8,202,130,909.85.
Also, while Oyo got N7,901,609,864.25, Borno was paid N7,340,934,865.32, Imo – N7,000,805,182.97, Jigawa – N7,107,666,706.76, Kaduna – N7,721,729,227.55, Niger -N7,210,793,154.95, Ondo – N7,003,648,314.28, Benue -N6,854,671,749.25, and Cross River – N6,075,343,946.93.
Abia was paid N5,715,765,871.48, Adamawa – N6,114,300,352.68, Anambra – N6,121,656,702.34, Bauchi – N6,877,776,561.25, Ebonyi -N4,508,083,379.98, Edo – N6,091,126,592.49, Ekiti – N4,772,836,647.08, Enugu – N5,361,789,409.66, Gombe – N4,472,877,698.19, and Kebbi – N5,977,499,491.45.
Kogi was refunded N6,027,727,595.80, Kwara – N5,120,644,326.57, Nasarawa – N4,551,049,171.12, Ogun – N5,739,374,694.46, Osun – N6,314,106,340.62, Plateau – N5,644,079,055.41, Sokoto – N6,441,128,546.76, Taraba – N5,612,014,491.52, Yobe – N5,413,103,116.59, Zamfara – N5,442,385,594.49, and the FCT – N684,867,500.04.
The ministry explained that the refunds were approved by President Muhammadu Buhari on May 4.
It said: “These payments which totalled N243,795,465,195.20 were made to the 36 states and the Federal Capital Territory upon the approval of the president on May 4, 2017, in partial settlement of long-standing claims by state governments relating to over-deductions from their Federation Account Allocation Committee (FAAC) allocation for external debt service arising between 1995 and 2002.”
It quoted the Minister of Finance, Mrs. Kemi Adeosun, to have stressed that the debt service deductions were in respect of the Paris and London Clubs’ loans and multilateral debts of the FG and states.
“While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some states had already been overcharged. The funds were released to state governments 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 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 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,” the statement added.
Confirming payment, Osun, Ekiti and Abia State governments said Tuesday that they had received the second tranche of the refunds.
A statement by Mr. Semiu Okanlawon, media aide to the Osun State governor, said N6.314 billion was paid into the state’s coffers on Monday, adding that the state government was committed to utilising the resources of Osun in the best interest of the people.
He said the state government also restated its commitment to keep to its promise to meet its obligations to concerned stakeholders in the state.
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