The governor recently claimed that the Federal Government printed N60 billion to bridge last month’s FAAC allocation to states.
His sensational claim attracted keen interest from the public and critics of the government who insist its economic and fiscal policies are ruining the nation’s finances.
The Minister of Finance, Budget, and National Planning, Zainab Ahmed, on Wednesday, April 14, 2021 strongly denied Obaseki’s claim, describing it as sad and untrue.
“What we distribute at FAAC is a revenue that is generated and in fact distribution revenue is a public information,” she said.
In his reply to the minister on Thursday, April 15, Obaseki said he wished to not to be drawn into an argument over the issue.
However, he said it’s his duty to offer useful advice for the benefit of the country.
The 63-year-old said the minister should rally Nigerians to stem the obvious fiscal slide facing the country.
He said, “Rather than play the Ostrich, we urge the government to take urgent steps to end the current monetary rascality, so as to prevent the prevailing economic challenge from degenerating further.
“We believe it is imperative to approach the Nigerian project with all sense of responsibility and commitment and not play to the gallery because ultimately, time shall be the judge of us all.”
Nigeria’s fiscal health has been a source of concern for many years, especially with dwindling revenue and rising debt.
Ahmed on Wednesday insisted that the nation’s debt profile is ‘still within sustainable limit’ but noted that revenue must be improved to enhance capacity to service debt and run the government.