The Minister of Finance, Budget, and National Planning Zainab Ahmed has
\ndebunked claims by Edo State Governor, Godwin Obaseki that the Central
\nBank of Nigeria printed an additional N50billion to N60billion to make
\nup for state allocations.<\/p>\n
The Minister said this on Wednesday at a briefing after the 41st virtual
\nFederal Executive Council meeting chaired by the Vice President,
\nProfessor Yemi Osinbajo at the State House.<\/p>\n
She described the governor\u2019s claim as very sad and untrue.<\/p>\n
According to her, monies distributed at Federation Account Allocation
\nCommittee (FAAC) are revenues generated from the Federal Inland Revenue
\nService (FIRS), Nigeria Customs, Nigerian National Petroleum Corporation
\n(NNPC), etc adding that revenue distribution is information that can be
\npublicly accessed.<\/p>\n
\u201cThe issue that was raised by the Edo State Governor, for me, is very
\nsad because it is not a fact.<\/p>\n
\u201cWhat we distribute at FAAC is revenue that is generated and in fact,
\ndistribution revenue is public information. We publish revenue generated
\nby FIRS, the Customs, and the NNPC and we distribute at FAAC.<\/p>\n
\u201cSo, it is not true to say we printed money to distribute at FAAC. It is
\nnot true,\u201d she said.<\/p>\n
On the question of Nigeria\u2019s debt profile pegged at N15-16 trillion, the
\nFinance Minister insists that the nation\u2019s debt profile is still at
\nsustainable limits.<\/p>\n
Ahmed advised that what the nation needs to critically do instead is
\nimprove revenue to enhance capacity to service Nigeria\u2019s debt
\nobligations and fulfill the quotidian needs of running the government.<\/p>\n
She maintained that the nation\u2019s debt profile which currently stands at
\n23percent of the total GDP is at sustainable levels.<\/p>\n","protected":false},"excerpt":{"rendered":"
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…<\/p>\n","protected":false},"author":1,"featured_media":79718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-79717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n