Stella Dimoko States To Get N649bn Paris Club Fund


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Friday, May 17, 2019

States To Get N649bn Paris Club Fund

State governments will soon smile to the banks as the federal government has concluded plans to commence the final phase of the Paris Club debt refunds.

Addressing journalists in Abuja on Thursday on the state of the economy, Minister of Finance Zainab Ahmed disclosed: “The total sum of N649.434 billion was verified by the Ministry as the outstanding balance to be refunded to the State Governments.”

She also revealed the payments made by the Central Bank of Nigeria as at March 2019 stands at N691.560 billion.

“The increase in CBN payments partly arose from exchange rate differential at the point of payment,” she said.

Ahmed, while not divulging the status of the states with regards to the Paris Club disbursements noted “some states still have outstanding balances, which will be refunded, in due course.”

The finance minister also stated that a total sum of N4.8 trillion was distributed to the three-tiers of government between September 2018 and April 2019 from the Federation Account noting “the sum of N784.7 billion realized from value added tax (VAT) for the same period was also shared.”

From the nation


  1. With all these money each year, some states are still owing their workers years of salaries. Where then are the money going into? So terrible and disgraceful.

    Most Nigerian governors wouldn't have been one if truly the peoples vote counts.

  2. Nigeria managers are very clueless and wicked. They have such amount,yet no infrastructure is built to help the masses.All we hear ends on propaganda and we continue to live in suffering and smiling each day.
    This government keeps collecting loans which they have no interest in repaying soon until China comes and take over our country..

    1. Soon you said or the process is on the draw board already.

  3. Money will enter private pockets. These governors have no fear of God in them. Devil self fear Nigerian government

  4. If only all these money the state government are collecting will be used judiciously for the purpose it is meant for, but hell no! They'll rather owe months of salary, build estates for themselves and tour round the world at the expense of the masses. God will help us in this country.

  5. Abia State Government....Pls I am begging you in the name of God...Pay Abia poly workers their salary. Owning me for year one has been the most wicked act in the century. Don't give that stupid excuse of us being a parastatal. Pay Us and fix that school. God bless you.

    Aunty Stella Pls post.

  6. The states are Northern states. Watch and see

  7. If that money enters Kogi account, purple lion and daddy yo will ensure it enters voice mail. May the full wrath of Allah descend on everyone responsible for the suffering in Kogi State. Amen.


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