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Paris Club Refund FG releases details of disbursements

This was made known to newsmen by the Federal Ministry of Finance on Friday, June 9, 2017, in Abuja.

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Kemi Adeosun, Minister of Finance,

(Invest Advocate)

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The Federal Government has released details of how the first set of N516.38bn Paris Club refund was disbursed.

This was made known to newsmen by the Federal Ministry of Finance on Friday, June 9, 2017, in Abuja.

According to Punch, the Director of Information in the finance ministry, Salisu Dambatta said the disbursement was approved by President Buhari in November 2016.

Dambatta said “The funds were released to state government 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 were conditional upon a minimum of 50 per cent being applied to the payment of workers’ salaries and pensions. The Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by state governments.

“A detailed report is being compiled for presentation to the Acting President, Professor Yemi Osinbajo, as part of the process for approval for the release of any subsequent tranches.”

The states that received the funds include: Rivers State N34.92bn, Delta State N27.6bn, Akwa Ibom State N25.98bn, Bayelsa State N24.89bn and Kano State N21.7bn.

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Lagos State N16.74bn, Katsina State N16.4bn, Kaduna State N15.44bn, Borno State N14.68bn, Jigawa State N14.2bn, Imo State N14.01bn, Niger State N14.42bn, Bauchi State N13.75bn, Sokoto State N12.88bn and Osun State N12.62bn.

Cross River State N12.15bn, Anambra State N12.24bn, Edo State N12.18bn, Kebbi State N11.95bn, Kogi State N11.05bn, Abia State N11.43bn, Ogun State N11.47bn, Plateau State N11.28bn.

 Yobe State got N10.82bn, Zamfara State N10.88bn, Ebonyi State N9.01bn, Ekiti State N9.54bn, Enugu State N10.7bn, Gombe State N8.95bn, Nasarawa State N9.1bn, Oyo State N13.31bn, Kwara State N10.24bn.

Adamawa State N10.25bn, Benue State N13.7bn, Ondo State N14.01bn, Taraba State N9.32bn and Federal Capital Territory N1.36bn.

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