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Market Digest Nigeria

Politics

“Obaseki Lied” – Nigerian Federal Government

Zainab Ahmed described the allegation by Obaseki as untrue and sad.

Obaseki had at the Edo transition committee stakeholders’ engagement last week said that Nigeria was in huge financial trouble.

“When we got FAAC (Federal Account Allocation Committee) for March, the federal government printed additional N50-N60 billion to top-up for us to share,” he had said.

“This April, we will go to Abuja and share. By the end of this year, our total borrowings is going to be within N15-N16 trillion. Imagine a family that is just borrowing without any means to pay back and nobody is looking at that, everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician.”

Ahmed said Nigeria’s debt is still within sustainable limit and efforts are on to improve revenue generation capacity.

“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 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,” she said.

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