The Progressives Governors’ Forum PGF, says recent comment made by Governor Godwin Obaseki of Edo State that the Federal Government printed sixty billion Naira to augment March revenue allocation to states is misplaced.
The Forum in a statement by its Chairman and governor of Kebbi state, Alhaji Atiku Bagudu says governor Obaseki’s statement does not reflect the true position of things and grossly misleading.
The statement admits that although there is a 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 in March.
Its explains that giving a background to the practice of revenue sharing in the country, 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.
According to the statement, as a trained Economist who has been a governor since 2016, Mr Obaseki should be aware of all the support states have received from President Buhari in coping with the shocks that have resulted from the COVID-19 pandemic and resulting economic recession.
It stresses that almost every Central Bank in the world is taking steps to support their government in coping with the effect of COVID-19 pandemic on the national economy which has become the norm rather than the exception as all countries grapple with downward effect of economic recession.
The statement advises Nigerians against politicizing matters that require the collective resolve of all leaders to address.