By Yaseer Ahmad
A joint of non governmental organisations popularly known as Non-State Actors Consultative Forum (NOSACOF) Comprising
Kano,Katsina,Zamfara,Imo,Kaduna,Niger and Sokoto State Chapters have described the claims of printing N60 billion made by the Edo state governor Godwin Obaseki as unscrupulous mischief.
This was contained in a statement signed and issued to news men by NOSACOF join coordinator Omaru Ibrahim adding that is a deliberate Attack on Minister of Finance, Budget and National Planning.
The statement said, NOSACOF are deeply troubled by the increasing use of disinformation and tainted truth by some politicians to misguide and misinform public about government policies for mischief political agenda.
According to the statement, over the last 6 – 7 years, Nigeria was faced with challenging financial and economic problems characterised by a series of increased inflation, unemployment and Naira depreciation. This is because; Nigeria is a mono economy, dependent on crude oil exportation for its survival and importation of virtually everything.
It said, Unfortunately previous administrations lead by the People’s Democratic Party (PDP) failed to use the crude oil earnings to diversify the economy nor save for rainy days. Instead most of these earning were stolen through unscrupulous contract awards as well extravagant spending by government officials.
The statement maintained that, the incoming President and his administration had to embark on numerous fiscal and economic policies that will increase government revenues, reduce unemployment rate and cut down on imports.
According to the statement, Unfortunately, members of the People’s Democratic Party (PDP) whose administrations were responsible for Nigeria’s economic woes have been nothing but a nuisances and Sometimes they sort into blackmailing government officials, just to deter them from implementing the needed economic policies.
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“Recent happening regarding the unscrupulous claims by the Governor of Edo State Mr Godwin Obaseki that the Central Bank of Nigeria printed N60 Billion which was shared as federation allocations was nothing but to gain cheap political points against the APC led administration.
“And as usual members of his party have jumped on this opportunity to politically harass and blackmail the Honourable Minister of Finance, Mr Zainab.Facts and figures of the revenues shared as federal allocations in March 2021 shows that, all revenues were listed accordingly.
“VAT – N157.327 billion, Petroleum Profit Tax (PPT) – N137.583 billion, remittances by the Department of Petroleum Resources (DPR) – N133.583 billion, Nigeria Customs Service (NCS) – N89.350 billion, Company Income Tax (CIT) and related taxes – N66.356 billion, remittance by Nigerian National Petroleum Corporation (NNPC) remitted – N64.161 billion, remittance by the Ministry of Mines and Steel Development (MMSD) – N976 million.
The statement maintained that, the Overall a gross income of N649.336 billion was recorded, however, after 13 percent derivation payment to oil-producing states were netted off, the total revenue to be shared reduced to N596.944 billion. After N8.645 billion withdrawn from the forex equalisation fund account is added, a grand total of N605.589 was shared by the three tiers of government.
The breakdown shows that the federal government receive N205.160 billion as its share, while the 36 states received N166.085 billion and the 774 councils N122.853 billion and oil-producing states shared an additional N37.143 billion as derivation payment.
According to the statement, it is common practice in both developed and developing countries to print money during difficult economic times, the responsibility mostly lies on the advice and suggestions made by the Central Bank.
The statement maintained that, the Nigeria’s CBN governor Mr Godwin Emefiele has personally addressed the issue of printing and have made it clear that printing money is a responsibility of the Central Bank and it is mainly done for intervention measure.
The statement then, called on the public to disregard the media campaign of calumny against the person the Honourable Minister Mrs Zainab Ahmad and urged the minister to keep giving her best for the betterment of our beloved country.
