Minister of finance, budget and national planning Zainab Ahmed has discredited a claim made by Edo State Governor Godwin Obaseki that the Central Bank of Nigeria printed between N50 billion and N60 billion for states to share in March.
The statement from Mr Obaseki had raised concerns of inflation among the populace.
However, speaking with reporters on Wednesday, the minister said what is shared monthly at the meeting of the federation account allocation committee is revenue generated.
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“The issue that was raised by the Edo State Governor, Obaseki for me, is very sad because it is not a fact,” she said.
“What we distribute at FAAC is a revenue that is generated and in fact, distribution revenue is 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 Nigeria’s debt profile, the minister added, “Nigeria’s 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 a 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.”
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