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36 States, FCT get refund from FG on Paris Club loan

The Federal Government (FG) has released a State-by-State breakdown of the first tranche of Paris Club refunds paid to date, including the Federal Capital Territory (FCT) Abuja, reports ITRealms.

The refunds, gathered were over-deductions on Paris Club Loans by States in Nigeria between 1995 and 2002.

These payments totaling N516.38bn were made to the 36 States plus FCT upon the approval of President Muhammadu Buhari on November 21st 2016 in partial settlement of long standing claims by State Governments relating to over-deductions from their Federation Account Allocation Committee (FAAC) allocation for external debt service arising for the period under review.

Director, Information at the Federal Ministry of Finance, Salisu Na’Inna Dambatta, told ITRealms that 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,” he said.

He also noted that 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, ITRealms gathered were conditional upon a minimum of 50 per cent being applied to the payment of workers salaries and pensions. 

According to him, the Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by State Governments. 

REFUND OF OVER-DEDUCTIONS 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

Nonye Dom/GEE

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