‘N94trn unremitted to federation account’ – Falana-led coalition writes Buhari
The Alliance for Surviving COVID-19 and Past (ASCAB), a coalition of 70 labour and civil society organisations (CSOs), says it has found N94.3 trillion which was unremitted to the federation account.
In letter dated September 28 and addressed to President Muhammadu Buhari, Femi Falana, interim nationwide chair of the coalition, mentioned the unremitted cash can fund the nationwide funds for greater than eight years.
The group maintained that “income leakages” have proven that the federal and state governments have the funds to make sure higher welfare for the individuals, and as such, ASCAB will begin campaigning for an additional enhance within the minimal wage subsequent yr.
“ASCAB rejects the argument of no cash to offer fundamental items for the lots. The wealth of Nigeria, as measured by the GDP, is now thrice increased than it was in 1998, however the minimal wage is simply value half of its worth then, and at the least eight states have but to totally pay the legislated N30,000 that was agreed to be paid from July 2019,” Falana mentioned.
“Because of this, the Nationwide Bureau of Statistics not too long ago reported that 40% of Nigerian households should survive on N11,500 a month or much less, when the common per capita GDP is now round N75,000 a month.
“The Federal Authorities claims it can not afford the ‘gasoline subsidy’, state governments declare they can’t afford the minimal wage. In distinction, ASCAB has proven that the Federal Authorities has cash owed to it of practically N95 trillion. Assuming the revised federal funds for 2020 of N10.8 trillion is fixed, the N95 trillion would fund the entire federal funds for over eight years.
“Annexure 1 to this open letter is the tabulated N95trn income leakages. We demand a Committee of representatives of Labour, civil society organisations and authorities to maintain monitor of the income leakages.
“Furthermore, we argue that within the first quarter of this yr, the federal government’s oil revenue was the best since 2014. The second quarter figures had been very barely decrease, however the August figures had been 5% increased than the speed within the first quarter of the yr. So, state governments have loads of cash to pay a good minimal wage and fund correct budgets for public schooling and well being.”