ABUJA – The Federal Government on Friday released a State by State breakdown of the first tranche of Paris Club refunds paid to date.
According to a statement by the Federal Ministry of Finance, these payments which totalled N516.38 billion were made to the 36 States plus FCT upon the approval of President Muhammadu Buhari on November 21, 2016 in partial settlement of long sanding claims by State Governments relating to over-deductions from their Federation Account Allocation Committee (FAAC) allocation for external debt service arising between 1995 and 2002.
“These debt service deductions are in respect of the Paris Club, London Club and Multilateral debts of the FG and States.
“While Nigeria reached a final agreement for debt relief with the Paris Club in October 2005, some States had already been overcharged.
“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 50 per cent being applied to the payment of workers’ salaries and pensions.
” 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, Salisu Na’inna Samantha, Director of Information in the ministry said. Find below details:
REFUND OF OVERDEDUCTIONS ON PARIS CLUB LOANS ON THE ACCOUNTS OF STATE AND LOCAL GOVERNMENTS (1995-2002)
S/N STATE TOTAL AMOUNT PAID IN NGN
1 ABIA 11,431,531,742.97
2 ADAMAWA 10,257,434,321.63
3 AKWA IBOM 25,981,255,165.12
4. ANAMBRA. 12,243,313,404.68
5 BAUCHI 13,755,553,122.51
6. BAYELSA 24,895,696,347.55
7. BENUE 13,709,343,498.51
8 BORNO 14,681,869,730.63
9 CROSS RIVER 12,150,687,893.85
10 DELTA 27,606,963,362.46
11 EBONYI 9,016,166,759.96
12 EDO 12,182,253,184.99
13 EKITI 9,545,673,294.17
14 ENUGU 10,723,578,819.32
15 GOMBE 8,945,755,396.38
16 IMO 14,001,610,365.94
17. JIGAWA. 14,215,333,413.52
18 KADUNA 15,443,458,455.10
19 KANO. 21,740,390,362.48
20 KATSINA. 16,404,261,819.71
21 KEBBI. 11,954,998,982.90
22 KOGI 12,055,455,191.60
23 KWARA 10,241,288,653.14
24 LAGOS 16,743,876,266.21
25 NASARAWA 9,102,098,342.24
26 NIGER 14,421,586,309.89
27 OGUN 11,478,749,388.92
28 ONDO 14,007,296,628.57
29 OSUN 12,628,212,681.25
30 OYO. 13,315,423,054.25
31 PLATEAU 11,288,158,110.82
32 RIVERS 34,925,785,322.06
33. SOKOTO. 12,882,257,093.52
34 TARABA 9,326,607,975.00
35 YOBE 10,826,206,233.18
36 ZAMFARA 10,884,771,188.99
37 FCT 1,369,735,000.09
TOTAL 516,384,636,883.81
