FG Admits Revenues Crashing, Says Nigeria Faces Hard Times.

By Afolabi Oyekunle.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has admitted that Nigeria’s economy is facing a difficult time, saying states must improve their internally generated revenues.

Ahmed, who stated this in an interview on a daily breakfast show on the Nigerian Television Authority, Good Morning Nigeria, stated that the money shared at the March Federation Account Allocation Committee was short of N50bn.

The minister was speaking on a controversy generated by a claim by the Edo State Governor, Godwin Obaseki, that the Central Bank of Nigeria printed N60bn in March to augment the money shared at March FAAC.

But the minister and the CBN Governor last week dismissed Obaseki’s claim.

In the interview on the NTA on Monday, the finance minister stated the country’s economy was stabilising from the recession, which the country exited a few months ago.

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