Niger state Commissioner of Finance, Alhaji Zakari Abubakar has said that the state government only received N263.3 billion from revenue sources in the last three years.
Speaking to news men in response to the opposition PDP in Minna Wednesday, the Commissioner said that no N500 billion was received in the state, “it is a figment of someone’s imagination. Only N263.3 billion was received. I am refuting that claim in unrevokeable terms.”
Giving a breakdown of the revenue sources at which the funds came in, he said that N131.6 billion was received from statutory allocation and excess crude, N33.3 from VAT, 18.6 billion from Internally Generated Revenue and N79.7 billion from other sources which include bail out and budget support facility.
Abubakar went on to say that all the revenue received had been expended by the government as 34 per cent of the amount went for salaries and pensions, 31 per cent got capital expenditure while the rest went for recurrent overhead and government activities.
He further stated that the claims that the state had over N100 billion debt is false and malicious adding that the total debt stock of the state government is N59.8 billion.
The Commissioner further emphasized that the state government had not signed on any external debt since its inception adding that the external debt of N17.35 billion and bonds of N7.28 billion been paid by the state government was accrued from the previous administration.