The Minister of Finance, Budget, and National Planning Zainab Ahmed has
debunked claims by Edo State Governor, Godwin Obaseki that the Central
Bank of Nigeria printed an additional N50billion to N60billion to make
up for state allocations.
The Minister said this on Wednesday at a briefing after the 41st virtual
Federal Executive Council meeting chaired by the Vice President,
Professor Yemi Osinbajo at the State House.
She described the governor’s claim as very sad and untrue.
According to her, monies distributed at Federation Account Allocation
Committee (FAAC) are revenues generated from the Federal Inland Revenue
Service (FIRS), Nigeria Customs, Nigerian National Petroleum Corporation
(NNPC), etc adding that revenue distribution is information that can be
publicly accessed.
“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 public information. We publish revenue generated
by FIRS, the Customs, and the NNPC and we distribute at FAAC.
“So, it is not true to say we printed money to distribute at FAAC. It is
not true,” she said.
On the question of Nigeria’s debt profile pegged at N15-16 trillion, the
Finance Minister insists that the nation’s debt profile is still at
sustainable limits.
Ahmed advised that what the nation needs to critically do instead is
improve revenue to enhance capacity to service Nigeria’s debt
obligations and fulfill the quotidian needs of running the government.
She maintained that the nation’s debt profile which currently stands at
23percent of the total GDP is at sustainable levels.
