Featured

FG Releases Details of Another Paris Club Refunds to States

152

The Federal Government Tuesday evening released a breakdown of another tranche of Paris Club refunds paid to states.

A statement by the Director of Information in the Ministry of Finance, Salisu Danbatta, said the 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.

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.

The Minister of Finance, Mrs. Kemi Adeosun explained that these debt service deductions were in respect of the Paris Club, London Club 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.

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.

 

Table below

S/N STATE AMOUNT PAYABLE (NGN)
1 ABIA 5,715,765,871.48
2 ADAMAWA 6,114,300,352.68
3 AKWA-IBOM 10,000,000,000.00
4 ANAMBRA 6,121,656,702.34
5 BAUCHI 6,877,776,561.25
6 BAYELSA 10,000,000,000.00
7 BENUE 6,854,671,749.25
8 BORNO 7,340,934,865.32
9 CROSS RIVER 6,075,343,946.93
10 DELTA 10,000,000,000.00
11 EBONYI 4,508,083,379.98
12 EDO 6,091,126,592.49
13 EKITI 4,772,836,647.08
14 ENUGU 5,361,789,409.66
15 GOMBE 4,472,877,698.19
16 IMO 7,000,805,182.97
17 JIGAWA 7,107,666,706.76
18 KADUNA 7,721,729,227.55
19 KANO 10,000,000,000.00
20 KATSINA 8,202,130,909.85
21 KEBBI 5,977,499,491.45
22 KOGI 6,027,727,595.80
23 KWARA 5,120,644,326.57
24 LAGOS 8,371,938,133.11
25 NASARAWA 4,551,049,171.12
26 NIGER 7,210,793,154.95
27 OGUN 5,739,374,694.46
28 ONDO 7,003,648,314.28
29 OSUN 6,314,106,340.62
30 OYO 7,901,609,864.25
31 PLATEAU 5,644,079,055.41
32 RIVERS 10,000,000,000.00
33 SOKOTO 6,441,128,546.76
34 TARABA 5,612,014,491.52
35 YOBE 5,413,103,116.59
36 ZAMFARA 5,442,385,594.49
37 FCT 684,867,500.04
TOTAL 243,795,465,195.20

 

 

 

 

 

Leave a comment

Related Articles

Nigeria-British Chamber of Commerce inagurates Atelly as 18th President, unveils programmes

Ray Atelly has been sworn in as the 18th President of the...

Kano guber poll ‘clerical error’: An Appeal Court judgment in a mire of controversy

The past few months have been characterized with legal tussles over the...

Why I did not walk out of Super Falcons before FIFA female World Cup – Waldrum

In a recent podcast interview with ‘On The Whistle’ podcast. Randy Waldrum,...

Niger’s ousted president is being denied food and electricity, says European Union

The European Union Friday said it had “deep concern” about the treatment...

Breaking: Ex-Kaduna Gov. El rufai might reject ministerial appointment 

The immediate past Governor of Kaduna State, Malam Nasir El rufai is...

President Tinubu appoints Ajuri Ngelale as special adviser media & publicity

President Bola Ahmed Tinubu, GCFR, has approved the appointment of Chief Ajuri...

Are ‘balloons’ the new drug epidemic in Nigeria?

They may look like the normal balloons you see at children’s birthday...

From Fame to Penury: The Despicable Tales of Nigerian Veteran Thespians

The entertainment industry, particularly the movie circle, has been in the eye...

Content creation is the new oil, says Broda Shaggi in an exclusive interview with PSN

There are not many in the class of Samuel Animashaun Perry otherwise...

Hubby’s watery sperm, erectile dysfunction crash two-month-old marriage

A husband’s watery sperm has forced his wife to urge the court...

Max Air Acquires 16 Year Old Boeing 777-200

Kano based Max Air Limited has taken delivery of its first Boeing...

From waste collection to classroom: Story of Adamu’s pursuit of education

Coming from the background of a family of seven children and parents...

Fuel Subsidy: Need for Labour to tread softly, Softly 

The Labour Movement in Nigeria is up in arms against the Federal...

Between the dialectics and the benefits of petroleum subsidy removal

By Paul Njowusi For many years, successive administrations in Nigeria had embraced...

Kudos, knocks for courts’ ruling clearing the coast for Tinubu’s May 29 inauguration – PSN exclusive

By Ajuma Edwina Ameh and Samuel Akpan …the body language of the...

Buhari inaugurates N19.6bn Customs corporate hqts in Abuja, says new Customs Act will drive efficiency

With the newly signed Customs Act and a befitting corporate headquarters for...

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals, Lekki-Lagos inaugurated

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals planted in Ibeju-Lekki area...