Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed has debunked claims by Governor Godwin Obaseki of Edo State that the Federal Government printed between N50 and N60 billion to share between the three tiers of government in March 2021.
The minister, who stated this while fielding questions from State House correspondents on Wednesday, described the governor’s claim as very sad, insisting that the money being shared monthly at FAAC is revenue generated.
While noting that revenue distribution is a public information that is available to all, Ahmed equally faulted the alarm raised by Governor Obaseki on the country’s debt profile.
Ahmed said: “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 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.”
On the nation’s debt profile, Ahmed said: “Nigeria’s debt is still within sustainable limit. What we need to do as I have said several times is to improve our revenue to enhance our capacity to service, not only our debt, but to service the needs of running government on day-to-day basis.
“So, our debt currently at about 23% to GDP is at a very sustainable level, if you look at all the reports that you see from multilateral institutions.”