What FG Paid Each State From Another New Tranche Of Paris Loan Refund [See Full List]

The federal government has released a state-by-state breakdown of the second tranche of Paris Club refund.

A statement from the ministry of finance said the payments, which totalled N243,795,465,195.20 were made to the 36 states and the federal capital territory upon the approval of President Muhammadu Buhari on May 4, 2017.

Akwa-Ibom, Bayelsa, Delta, Kano and Rivers states received the largest disbursements of N10 billion each.

“The releases were conditional upon a minimum of 75 percent being applied to the payment of workers’ salaries and pensions for States that owe salaries and pension,” Salisu Dambatta, spokesman of finance ministry, said in the statement.

States Receive Another Tranche Of Paris Club Refund

This second tranche of Paris Club refunds is a partial settlement of long-standing claims by state governments relating to over-deductions from their federation account allocation committee (FAAC) allocation for external debt service arising between 1995 and 2002.