The Minister of Finance, Zainab Ahmed has a few hours ago, revealed that the debt and Liabilities inherited by President Muhammadu Buhari’s administration in 2015 when he assumed office was N7trillion naira.
Finance Minister Zainab Ahmed who listed all the debt and Liabilities, said if there is anything President Muhammadu Buhari and his administration has done since 2015, was to clear these debts and liabilities by the previous government, especially on salaries and pensions to workers…including debts owed to State Governments on roads.
While Stating this, Zainab Ahmed who was appointed Minister of Finance a few months ago, said:
“The liabilities inherited by President Muhammadu Buhari’s administration have not deterred his leadership from ensuring that these debts & liabilities are cleared; from pensioners of Nigeria Airways, to Paris Club Overdeductions, Ex-Biafra Police Officers, Oil Subsidy Debts, etc.”
The debts and liabilities as released by Zainab Ahmed through the Ministry of Finance, are as follow:
Pension and Salary arrears- 740billion naira
Oil Subsidy debt- 350billion naira
Paris Club Over deduction $5.4billion
JV Cash Call arrears- 6.8billion
Contractor Debt/ EGG Debt-1.9trillion naira
Refunds to States for Roads-488billionnaira
Total-N7trillion naira