Why FG gave N244bn Paris Club loan refund to states

The Federal Government has released a state-by-state breakdown of the second tranche of Paris Club refund.

A statement from the Ministry of Finance revealed that a total sum of N243,795,465,195.20 was approved for the 36 states and the federal capital territory by President Muhammadu Buhari on May 4, 2017.

The second tranche of Paris Club refunds is a 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 between 1995 and 2002.

Salisu Dambatta, Spokesman of the Finance Ministry, said the releases were predicated upon a minimum of 75 percent being applied to the payment of workers’ salaries and pensions for states that owe salaries and pension.

Akwa-Ibom, Bayelsa, Delta, Kano and Rivers states received the largest disbursements of N10 billion each while Gombe got the least amount of N4.47 billion aside FCT which got N684 million.

SN STATE AMOUNT

PAYABLE (NGN)

1 ABIA 5,715,765,871.48
2 ADAMAWA 6,114,300,352.68
3 AKWA-IBOM 10,000,000,000.00
4 ANAMBRA 6,121,656,702.34
5 BAUCHI 6,877,776,561.25
6 BAYELSA 10,000,000,000.00
7 BENUE 6,854,671,749.25
8 BORNO 7,340,934,865.32
9 CROSS RIVER 6,075,343,946.93
10 DELTA 10,000,000,000.00
11 EBONYI 4,508,083,379.98
12 EDO 6,091,126,592.49
13 EKITI 4,772,836,647.08
14 ENUGU 5,361,789,409.66
15 GOMBE 4,472,877,698.1937
16 IMO 7,000,805,182.97
17 JIGAWA 7,107,666,706.76
18 KADUNA 7,721,729,227.55
19 KANO 10,000,000,000.00
20 KATSINA 8,202,130,909.85
21 KEBBI 5,977,499,491.45
22 KOGI 6,027,727,595.80
23 KWARA 5,120,644,326.57
24 LAGOS 8,371,938,133.11
25 NASARAWA 4,551,049,171.12
26 NIGER 7,210,793,154.95
27 OGUN 5,739,374,694.46
28 ONDO 7,003,648,314.28
29 OSUN 6,314,106,340.62
30 OYO 7,901,609,864.25
31 PLATEAU 5,644,079,055.41
32 RIVERS 10,000,000,000.00
33 SOKOTO 6,441,128,546.76
34 TARABA 5,612,014,491.52
35 YOBE 5,413,103,116.59
36 ZAMFARA 5,442,385,594.49
37 FCT 684,867,500.04
  TOTAL 243,795,465,195.20

 

 

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