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Wednesday, March 29, 2023

Obaseki Lied, FG Denies Printing N60bn to Support March Allocation

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The federal government says Edo State Governor Godwin Obaseki was lying through his false teeth when he announced recently that Nigeria has become so broke, the sum of N60billion in cash was printed and shared among the 36 states in March of 2021.

Speaking at the Edo transition committee stakeholders engagement on Saturday, April 10, 2021, Obaseki said: “When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.

“This April, we will go to Abuja and share. By the end of this year, our total borrowings are going to be within N15-N16 trillion.”

The governor’s remarks caused quite a stir across the country; and they were used as one more reason to pillory the federal government.

Addressing the issue during this week’s Federal Executive Council (FEC) meeting in Abuja, Finance Minister Zainab Ahmed said the governor’s comments were unfortunate and a tissue of lies.

“The issue that was raised by the Edo State Governor for me is very, very sad. Because it is not a fact. What we distribute at FAAC is a revenue that is generated and in fact distribution revenue is a 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.

Nigeria’s economy has been in dire straits, no thanks to a plunge in the price of crude oil in the international market and the novel coronavirus pandemic.


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