In a statement issued by the Director of Press, Ministry of Finance, Salisu Dambatta, the amount the 36 states of the federation and the Federal Capital Territory, FCT, received totalled N516.38 billion.
The statement reads: “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 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 per cent 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.”
State Total Amount paid (NGN)
Akwa Ibom 25,981,255,165.12
Cross River 12,150,687,893.85