FG confirms release of final tranche to 27 states

Minister of Finance, Kemi Adeosun  (File)

The Federal Government on Saturday, December 16, 2017, said it has released the final tranche of the Paris Club to 27 state governments.

The Director, Home Finance, Federal Ministry of Finance, Mrs Siyanbola Olubunmi, confirmed the release of the fund.

Speaking at the end of the Federation Account Allocation Committee meeting held at the headquarters of the ministry of finance, she  said the ministry has not paid about 10 other states.

She payments to the states is being delayed by some processes.

Olubunmi said once the processes are sorted out,  the fund would be released to the states.

According to Punch, payments to some states may be delayed because of a suit filed by the consultant engaged by the Nigerian Governors Forum.

In July 2017, the Federal Government released the second tranche of N243.79 billion, bringing the amount so far disbursed to states as refund under the Paris Club loan to N760.17 billion.

A breakdown of the amount shows that five states received the highest amount of N10 billion each.

The states being Akwa IbomBayelsaDeltaKano, and Rivers.

The total amount of N50 billion received by these five states represents 20.5 per cent of the entire amount released under the second tranche.

Olubunmi, however, did not provide the  amount that was paid to some states for the final tranche.


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