Paris loan refund: states get N388.3b

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Some state governors

In its determined effort to support states in meeting their obligations and mitigating the effect of the economic recession, the Federal Government has effected the payment of about N388.3 billion to 35 states as refund of the Paris Club loan over deductions.

This figure is aside the budget support facility the states have received on a regular basis since 2016, from the Federal Government, as part of financial support to state governments.

According to statistics released by the Federal Accounts Allocation Committee (FAAC) as at December 27, 2016, 35 states have been paid a total of N388, 304, 379, 072.96.

Additional information released by FAAC indicates that Ondo state payment represents 50% of the refund due given transition of leadership while further instruction is being awaited on the balance of payment.

The information also indicates that Adamawa, Oyo and Taraba states, and the second tranche of payment to Kwara, represent the portions due to the respective local governments.

A breakdown of the payment shows that Abia, Adamawa, Akwa Ibom, Anambra and Bauchi states got N10.6 billion, N4.8 billion, N14.5 billion, N11.3 billion and N12.7 billion respectively.

In the same vein, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi and Edo states were paid N14.5 billion, N12.7 billion, N13.6 billion, N11.3 billion, N14.5 billion, N8.3 billion and N11.3 billion respectively.

According to the FAAC document, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna, Katsina, Kebbi and Kogi states got N8.8 billion, N9.9 billion, N8.3 billion, N13.02 billion, N13.2 billion, N14.3 billion, N14.5 billion, N11.1 billion and N11.2 billion respectively, from the Federal Government.

As already stated, Kwara state got payments in two tranches tagged on the FAAC document as Kwara 22a and Kwara 22b. The figure for Kwara 22a as contained on the document is N5.4 billion while Kwara 22b is N3.7 billion.

The payment breakdown also shows that Lagos state got N14.5 billion, Nasarawa N8.4 billion, Niger N13.4 billion, Ogun N10.6 billion, Ondo N6.5 billion and Osun N11.7 billion while Oyo state got N7.2 billion.

In the other disbursements, Plateau, Rivers, Sokoto, Taraba, Yobe and Zamfara states got N10.4 billion, N14.5 billion, N11.9 billion, N4.2 billion, N10.06 billion and N10.1 billion respectively.

The various payments to the states is indicative of the Buhari presidency’s commitment to ensuring inclusive development and the actualization of the administration’s agenda.

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