Finance Minister, Zainab Ahmed
A total amount of $5.4billion Paris Club Refund has so far been disbursed to states by the Federal Government.
The Minister of Finance, Zainab Ahmed, disclosed this on Monday in Abuja while highlighting steps taken by the Federal Government to increase revenue generation in 2019.
According to her, the Federal Government has taken steps on debts repayment, as a total of $5.4 billion has been paid for the Paris club refund, $1.9 billion as export expansion grant and $6.8billion payment for cash call obligation.
The $5.4billion paid assettlement of the Paris Club Refund, when converted based on the N305 per dollar official exchange rate of the Central Bank of Nigeria is about N1.65trillion.
The Paris Club Refund was released to states in phases based on some conditions.
The Minister added that the steps by the Federal Government to improve the economy in 2019 will include the introduction of a national single window trading platform for the Nigerian customs service and automation of revenue collection processes. This she said is expected to increase revenue by over 90 percent.
•Sourced from a Channels TV report
NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
