The Federal Government has released the sum of N1.98 trillion as share of the 13% oil derivation backlog paid to oil-producing states.
According to The PUNCH, this was disclosed by the Minister of Finance, Budget, and National budget Zainab Ahmed on Thursday at the sixth edition of the PMB administration scorecard.
She stated that the sum was paid off in seven years, despite the fact that some of the funds were allocated prior to the current administration.
She said, “One of the key functions of the Ministry of Finance Budget and National Planning is in support of states with the President understands very clearly that this economy wouldn’t have been growing consecutively or wouldn’t have been able to pull ourselves out of recession twice.
“We wouldn’t have been able to grow consistently without enabling the states to grow because it is a federation.
“Mr. President has been very uniquely generous in his support to states. I can say no president has provided the level of support provided to the states of the Federation.
“He understands that the federating units need to work together as one to achieve the targets that he has set for the country. So everybody goes to support sub-national governments.
“In seven years, we have disbursed N1.98 trillion in funds to oil-producing states.”
