Obaseki had claimed that the Federal Government printed the amount to bridge the shortfall in the distribution of federation revenues to the three tiers of government in March. He further added that federation revenues distributed monthly primarily consisted of mineral revenues from the sales of oil and gas, as well as non-mineral revenues from customs and excise duties, company income tax and value added tax. He, however, admitted that there were periods when the country experienced significant fiscal shocks in federation revenues, but said the shocks were offset by other savings. “As a trained economist who has been a governor since 2016, Obaseki is aware of all the support states have received from President Muhammadu Buhari,” he said. Obaseki becomes even more worrisome when juxtaposed with the official statement released after the meeting of PDP governors last week,” he said.

Source: The Guardian April 18, 2021 14:48 UTC