The Federal
Government (FG) has released a State-by-State breakdown of the first tranche of
Paris Club refunds paid to date, including the Federal Capital Territory (FCT)
Abuja, reports ITRealms.
The refunds,
gathered were over-deductions on Paris Club Loans by States in Nigeria between
1995 and 2002.
These
payments totaling N516.38bn were made to the 36 States plus FCT upon the
approval of President Muhammadu Buhari on November 21st 2016 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 for the period under review.
Director,
Information at the Federal Ministry of Finance, Salisu Na’Inna Dambatta, told ITRealms that these debt service
deductions are 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,” he said.
He also
noted that 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,
ITRealms gathered were conditional
upon a minimum of 50 per cent being applied to the payment of workers salaries
and pensions.
According to
him, the Federal Ministry of Finance is reviewing the impact of these releases
on the level of arrears owed by State Governments.
REFUND OF OVER-DEDUCTIONS ON PARIS CLUB
LOANS ON THE ACCOUNTS OF STATE AND LOCAL GOVERNMENTS (1995-2002)
|
||
S/N
|
STATE
|
TOTAL AMOUNT PAID IN NGN
|
1
|
ABIA
|
11,431,531,742.97
|
2
|
ADAMAWA
|
10,257,434,321.63
|
3
|
AKWA IBOM
|
25,981,255,165.12
|
4
|
ANAMBRA
|
12,243,313,404.68
|
5
|
BAUCHI
|
13,755,553,122.51
|
6
|
BAYELSA
|
24,895,696,347.55
|
7
|
BENUE
|
13,709,343,498.51
|
8
|
BORNO
|
14,681,869,730.63
|
9
|
CROSS RIVER
|
12,150,687,893.85
|
10
|
DELTA
|
27,606,963,362.46
|
11
|
EBONYI
|
9,016,166,759.96
|
12
|
EDO
|
12,182,253,184.99
|
13
|
EKITI
|
9,545,673,294.17
|
14
|
ENUGU
|
10,723,578,819.32
|
15
|
GOMBE
|
8,945,755,396.38
|
16
|
IMO
|
14,001,610,365.94
|
17
|
JIGAWA
|
14,215,333,413.52
|
18
|
KADUNA
|
15,443,458,455.10
|
19
|
KANO
|
21,740,390,362.48
|
20
|
KATSINA
|
16,404,261,819.71
|
21
|
KEBBI
|
11,954,998,982.90
|
22
|
KOGI
|
12,055,455,191.60
|
23
|
KWARA
|
10,241,288,653.14
|
24
|
LAGOS
|
16,743,876,266.21
|
25
|
NASARAWA
|
9,102,098,342.24
|
26
|
NIGER
|
14,421,586,309.89
|
27
|
OGUN
|
11,478,749,388.92
|
28
|
ONDO
|
14,007,296,628.57
|
29
|
OSUN
|
12,628,212,681.25
|
30
|
OYO
|
13,315,423,054.25
|
31
|
PLATEAU
|
11,288,158,110.82
|
32
|
RIVERS
|
34,925,785,322.06
|
33
|
SOKOTO
|
12,882,257,093.52
|
34
|
TARABA
|
9,326,607,975.00
|
35
|
YOBE
|
10,826,206,233.18
|
36
|
ZAMFARA
|
10,884,771,188.99
|
37
|
FCT
|
1,369,735,000.09
|
TOTAL
|
516,384,636,883.81
|
|
Nonye Dom/GEE
ITREALMS ... everything news digitally!
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