Minister of finance, budget and national planning, Zainab Ahmed, has stated that comment by Edo State Governor, Godwin Obaseki, that N60 billion was printed in March to support allocation to states is untrue.
She denied the claim made by Governor Obaseki while answering questions from state house correspondents, on Wednesday.
The Minister expressed that Nigeria’s debt is still within sustainable limit and efforts are on to improve revenue generation capacity.
“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,” she said.
“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 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.”