Edo State Governor Godwin Obaseki has said he won’t join issues with the Federal Government over his claim that N60 billion was printed in March to support allocation to the state.x
“While we do not want to join issues with the Federal Ministry of Finance, we believe it is our duty to offer useful advice for the benefit of our country,” Obaseki said in a statement on Thursday.
“Rather than play the ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.”x
Obaseki had also claimed the Nigerian economy was in dire condition due to huge debt burden.
But the minister of finance Zainab Ahmed, while reacting to Obaseki claim on Wednesday, said revenue distributed from Federation Account Allocation Committee (FAAC) is generated by Federal Government agencies.
She said the issue raised by the governor lacks fact.
“What we distribute at FAAC is revenue that is generated and the FAAC revenue distribution is public information and we publish it,” Ahmed said.
“So, it is the revenue generated by the FIRS, the Nigeria Customs Service (NCS) and the NNPC that we distribute at FAAC. So, it is not true that we printed money to distribute at FAAC.”
On borrowing, Ahmed said that Nigerian debt was within sustainable limits.
According to her, what is needed is to improve the nation’s revenue to enhance its capacity to service not only our debt obligation but also to service the needs of running government on a day to day basis.
The governor has insited that the minister should rally Nigerians to stem the obvious fiscal slide facing the country.
“We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.”