FG publishes breakdown of N516bn Paris club refund to states

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The details of the Paris Club first tranche of N516.38billion reimbursement made to the 36 states and the Federal Capital Territory has been released by the Nigerian Government.

According to the schedule of refund as released by the Federal Ministry of Finance in Abuja on Friday, five states received the highest figure of refund.

Rivers has N34.92bn, Delta N27.6bn, Akwa Ibom N25.98bn, Bayelsa N24.89bn and Kano N21.7bn.

Further analysis shows that these top five state received a total sum of N135.09bn, which is 26.1 per cent of the entire amount reimbursed to all states by the Federal Government to all the states.

Federal Capital Territory has the least share of N1.36bn, followed by Taraba with N9.32bn, Ondo N14.01bn Benue N13.7bn and Adamawa N10.25bn.

See the full breakdown below:

1 ABIA: N11,431,531,742.97
2 ADAMAWA: N10,257,434,321.63
3 AKWA IBOM: N25,981,255,165.12
4 ANAMBRA: N12,243,313,404.68
5 BAUCHI: N13,755,553,122.51
6 BAYELSA: N24.,895,696,347.55
7 BENUE: N13,709,343,498.51
8 BORNO: N14,681,869,730.63
9 CROSS RIVER: N12,150,687,893.85
10 DELTA: N27,606,963,362.46
11 EBONYI N9,016,166,759.96
12 EDO N12,182,253,184.99
13 EKITI N9,545,673,294.17
14 ENUGU N10,723,578,819.32
15 GOMBE N8,945,755,396.38
16 IMO N14,001,610,365.94
17 JIGAWA N14,215,333,413.52
18 KADUNA N15,443,458,455.1
19 KANO N21,740,390,362.48
20 KATSINA N16,404,261,819.71
21 KEBBI N11,954,998,982.9
22 KOGI N12,055,455,191.6
23 KWARA N10,241,288,653.14
24 LAGOS N16,743,876,266.21
25 NASARAWA N9,102,098,342.24
26 NIGER N14,421,586,309.89
27 OGUN N11,478,749,388.92
28 ONDO N14,007,296,628.57
29 OSUN N12,628,212,681.25
30 OYO N13,315,423,054.25
31 PLATEAU N11,288,158,110.82
32 RIVERS N34,925,785,322.06
33 SOKOTO N12,882,257,093.52
34 TARABA N9,326,607,975
35 YOBE N10,826,206,233.18
36 ZAMFARA 10,884,771,188.99
37 FCT N1,369,735,000.09

The released detail was signed by Salisu Dambatta, the Director of Information of the Ministry of Finance. He said the payments were made in November 21 2016 when it was approved by President Muhammadu Buhari.

This represents partial resettlement of overdue claims to states relating to over deductions from their Federation Accounts Allocation Committee allocation for servicing their debts between 1995 to 2002.

The debt is part of Paris Club, London Club and Multinational debts of both Federal government and states.

Some states government has already been overcharged already while Paris Club had finalised agreement on debt relief for Nigeria since 2oo5.

The statement in part reads: “The intention for releasing the funds to state government was to stimulate the economy and support them in paying off staff salaries and other compulsory payment, so as to minimize several challenges faced by workers.

“Condition attached to the released fund is that at least 50 per cent of it must be spent in settling salaries and pensions of workers. Ministry of Finance is reviewing how states have performed so far with money released to them in paying off arrears.

The Ministry of Finance spokesperson further noted that comprehensive report is being compiles to be presented to Acting President Yemi Osinbajo. This he said is part of the requirement to releasing any additional tranches