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‘Obaseki Lied’ – Finance Minister Denies The Printing Of N60Bn To Support Allocation

The Federal Government has described as untrue and sad, the comment by Godwin Obaseki, Governor of Edo, that N60 billion was printed in March to support federal allocation to states.

In a viral video, making the rounds, Obaseki had claimed the FG printed an additional 60 billion naira to buffer the allocations distributed to the States:

When we got FAAC for March, the federal government printed additional N50-N60 billion to top-up for us to share.”


“This April, we will go to Abuja and share. By the end of this year, our total borrowings is going to be within N15-N16 trillion. Imagine a family that is just borrowing without any means to pay back and nobody is looking at that, everybody is looking at 2023, everybody is blaming Mr. President as if he is a magician,” he said.

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Zainab Ahmed, Minister of Finance, Budget and National Planning, while answering questions from state house correspondents on Wednesday, vehemently denied it.

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 a revenue that is generated and in fact distribution revenue is a 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.

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