The Minister of Finance, Budget and National Planning, Zainab Ahmed, says the Federal Government never printed N60 billion and distributed it to states in March 2021, as claimed by Edo State Governor Godwin Obaseki.
Obaseki had said at the Edo transition committee stakeholders engagement on Saturday, that the money was shared at the Federation Account Allocation Committee (FAAC) meeting.
But the minister said while fielding questions from journalists after the Federal Executive Council meeting on Wednesday that “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.
“On the issue of borrowing, the Nigerian debt is still within a 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 the running government on a day to day basis.
“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.”