Paris Refund: Plateau State to settle debt, overdraft of N1b in July

The Plateau State Ministry of Finance, has said it has a debt profile of N1,960,778,585.86, which came as a result of overdraft drawn from the bank, to be settled in this month of July.

It also said the total debt owned in two years since the inception of Governor Simon Lalong led APC government is totalling N42b.

Speaking to newsmen at a press briefing on the receipt of the second tranche of the Paris/London Club Refund held on Thursday in Jos, the Commissioner of Finance Mrs Tamwakat Wali, said given the background, 50 percent of the proportion of the second tranche due for payment of salaries and pension cannot offset the current outstanding overdraft balance of N1,960,778,585.86, talk more of of paying the July salaries and pension.

Represented by the permanent secretary Ministry of Finance, Mr Sani Yahaya, the Commissioner said, 50 percent of the first tranche of the Paris/London Refund which came in 2016 was also to offset salaries and pension arrears while the remaining 50 percent was also used for the payment of other obligations accordingly.

The Commissioner advised that the cash trap situation in which the state found itself calls for inward look at the States Internally Generated Revenue with the aim to enhance and boost it’s efficiency.

“The State should come together to enhance it’s IGR, as I crave the indulgence of the populace to seriously consider paying all their outstanding and current taxes to be able to generate the much needed IGR with less dependence on revenue from the center”.

Daily Times reports that the State received the sum of N5 Billion, translated to N5,644,079,055.4, from the Federal Government in July 2017.

By Kingsley Chukwuka, Jos.