Following her statement that Nigeria’s debt was at a sustainable limit, Edo state Governor, Godwin Obaseki has on Thursday advised the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, to ‘rally Nigerians to stem the obvious fiscal slide facing the country’.
Last week, the Edo state governor averred that the Federal Government printed about N50-N60 billion to share in March. While speaking on the state of the economy.
Read Also: FG Printed N60bn To Share In March, Says Obaseki
Obaseki said;
Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil every day.
So we have run a very strange economy and strange presidential system where the local, state and federal government, at the end of the month, go and earn salary. We are the only country in the world that does that.
When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.
He expressed;
This April, we will go to Abuja and share. By the end of this year, our total borrowings are 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.
However, Zainab Ahmed, minister of finance, budget and national planning, dismissed the claim of printing N60bn as false.
Read Also: ‘It’s Not True’ – FG Denies Obaseki’s Claim Of Printing N60bn To Support March Allocation
Ahmed said the distribution revenue is public information and that there was no way the government would have printed money without public knowledge.
She said;
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.
Ahmed expressed;
On the issue of the borrowing, the Nigerian debt is still within 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 running the government on 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.
Reacting in a statement on Thursday, Obaseki said he does not want to join issues with the finance ministry.
He advised the government to “end the current monetary rascality” so as to prevent the economy from further degenerating.
Speaking via his Twitter handle, he said;
While we do not want to join issues with the @FinMinNigeria, we believe it is our duty to offer useful advice for the benefit of our country.
1.
While we do not want to join issues with the @FinMinNigeria, we believe it is our duty to offer useful advice for the benefit of our country.
— Godwin Obaseki (GGO) (@GovernorObaseki) April 15, 2021
He advised that the the Minister of Finance, Budget and National Planning should rally Nigerians to stem the obvious fiscal slide facing our country.
2.
The Minister of Finance, Budget and National Planning, @ZShamsuna should rally Nigerians to stem the obvious fiscal slide facing our country.
— Godwin Obaseki (GGO) (@GovernorObaseki) April 15, 2021
Obaseki emphasised that;
Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.
3.
Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.
— Godwin Obaseki (GGO) (@GovernorObaseki) April 15, 2021
He concluded that it is imperative to approach Nigerian project with all sense of responsibility and commitment and “not play to the gallery because ultimately, time shall be the judge of us all.”
4.
We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.
Signed
Godwin Obaseki
Governor, Edo State
April 15, 2021— Godwin Obaseki (GGO) (@GovernorObaseki) April 15, 2021
