Paris Club Refund: Nigeria Releases Details Of Payment To States

By Longtong Ibrahim

The Nigerian Government has released details of payment of over N243bn to states as refund of over-deductions on Paris Club, London Club Loans and Multilateral debts on the accounts of States and Local Governments arising from 1995-2002.

The payments totaling N243, 795,465,195.20   were made   to the 36 States including the the Federal Capital Territory.

A statement by the director of information, Federal Ministry of Finance, Salisu Na’inna Dambatta, explained that the approval for the release of fund was given by the President on May 4, 2017.

According to the statement, the funds were released to State Governments 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 75 per cent being applied to the payment of workers’ salaries and pensions for States that owe salaries and pension.

“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 statement noted.

Below are the details of the State by State breakdown of the second tranche payment:

  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 4,472,877,698.19
  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
Posted by on 19/07/2017. Filed under Economy, Governance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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