Why Progressive Governors' Forum in Nigeria (PGF) disown Governor Godwin Obaseki of Edo state ?

 


Remember that recently Governor Godwin Obaseki said on social media that the federal government printed between N50 billion – N60 billion, to bridge the shortfall in the distribution of federation revenues to the three tiers of government in March 2021.

However,the Progressive Governors’ Forum (PGF) has refuted claims by Governor Godwin Obaseki of Edo State that the federal government printed between N50 billion – N60 billion to bridge the shortfall in the distribution of federation revenues to the three tiers of government in March 2021, saying that the claims did not reflect the true position of things.

The Forum, in a statement released to newsmen in Abuja, by its Chairman, Governor Abubakar Atiku Bagudu of Kebbi State, said at first, the impression it got was that it was an off the cuff remark made in a private meeting, but “we were however shocked to see yet another response from our colleague to the rebuttal by the HM Finance insisting that the March 2021 FAAC was augmented via the printing of money.

The PGF says: “Given the significance of the statement from a sitting governor and the possible negative impact it has brought to the credibility of both the federal and State government in managing government finances, the Forum is obliged to put a statement out.

“To set the records clear and to the best of our knowledge, the total distributable statutory revenue for the month of March 2021 was N596.94 billion. Due to the shortfall in gross statutory revenues by N43.34 billion compared to the previous month, an augmentation was made in the sum of N8.65 billion from the Forex Equalization Fund Account, which brought the total distributable revenue to N605.59 billion.

“Federation revenues distributed monthly primarily consist of mineral revenues from the sale of oil and gas, as well as non-mineral revenues from customs and excise duties, company income tax, and value added tax.”

Governor Godwin Obaseki understands very well that the federal government is mismanaging government finances and resources in Nigeria. And  this has brought possible negative impact on the Economy and G.P of Nigeria. He believes that federal government needs to do needful to restore the Economy of Nigeria, because most of the Citizens in Nigeria are living below the standard of living in the society because of poverty in the Nation.the possible negative impact it has brought to the credibility of both the federal and State government in managing government finances, the Forum is obliged to put a statement out.

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By Prince Ademitunbiyi's blog 21/8/2021


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