style[amp-boilerplate] Debts/Liabilities inherited by Buhari Admin in 2015

Debts/Liabilities inherited by Buhari Admin in 2015

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  1. Pension/Salary Arrears: ₦740bn
  2. Oil Subsidy Debt: N₦350bn
  3. Paris Club Overdeductions: $5.4bn
  4. JV CashCall Arrears: $6.8bn
  5. Contractor Debt/EEG Debt: ₦1.9 Trn
  6. Refunds to States for Roads: ₦488bn

Total: ₦7 TRILLION

You can't understand where we are today without understanding where we're coming from. At least 7 TRILLION Naira in unpaid debts/liabilities, accumulated between 1999-2015, inherited by Buhari Administration.
All now being paid/settled. Even amidst relatively-low oil prices.

Look at Salaries/Pensions arrears. Examples abound: Nigerian Airways staff laid off 2003/4,unpaid until 2018. Delta Steel Co, Ex-Biafra Police Officers (pardoned since 2000)
See this thread from earlier this year by former Finance Minister @HMKemiAdeosun:

Look at Paris Club Overdeductions. The monies in question date back to the period between 1995 and 2002. (FG over-deducted money from States for repayment of Paris Club debt)
In 2016 PMB directed that the claims of over-deduction be formally reconciled by the DMO.

The reconciliation started in November 2016.

The first set of Refunds (50%) to State Governments were released between Dec 2016 & Sept 2017.

Balance of 50% - amounting to ~$2.7bn - has just been paid, in fulfillment of PMB's Promise:

Another Debt Paid.

Partial Source Credit: Twitter & SUN NEWS ONLINE

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