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Rivers gets N34.9b, highest of Paris Club refund

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Nigeria’s Finance Minister, Kemi Adeosun: gives a breakdown of what each state got from Paris Club refund

The Federal Government today released details of what each state got from the first tranche of Paris Club refunds, showing Rivers State as the biggest beneficiary.

It got N34.9billion. Delta followed with N27.6b, Akwa Ibom got N25.98billion and Bayelsa N24.89b.

Cross River and Edo states got about N12.1 billion each.

The refund was based on over deductions from the accounts of the 36 states and the 774 local councils between 1995 and 2002.

These payments which totalled N516.38bn were made to the 36 States plus FCT upon the approval of Present Muhammadu Buhari on November 21st 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.

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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.

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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 other tranche, according to a statement by the Federal Ministry of Finance.

Below is the state-by-state breakdown

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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                         14,681,869,730.6
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

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