The federal government has released detailed of Paris Club refunds to each state
According to a statement signed by Salisu Dambatta, director of press, ministry of finance, the payments which totalled N516.38 billion were made to the 36 states and the FCT.
“The 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 statement read.
“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 were conditional upon a minimum of 50 percent 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.
Here is exactly how much every state got as refund of overdeductions made from 1995 to 2002:
STATE TOTAL AMOUNT PAID (NGN)
Akwa Ibom 25,981,255,165.12
Cross River 12,150,687,893.85