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It Is Not Valid – FG Replies Governor Obaseki On Printing Of N60bn


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Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed has shot down claims by Godwin Obaseki, that the federal government printed N60 billion to augment allocation shared for March. 

Obaseki said; “My brothers and sisters, we are in trouble. We are in a deep financial trouble. Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil everyday.

According to  Hajiya Zainab Ahmed, the monthly FAAC meetings were generated revenue from government institutions available to the public at the ministry’s website and not what Obaseki speculated. 

Hajiya Zainab Ahmed said: “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.

“On the issue of the borrowing, the Nigerian 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.


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“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.”

Source: www.Ghgossip.com

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