Finance Minister and Coordinating Minister of the Economy, Wale Edun, disclosed on Thursday that the indebtedness of States to the Federal Government stands at N16.6 billion.
This was what he tabled before the National Economic Council (NEC) meeting, presided over by the Vice President Kashim Shettima, at the Council Chamber, Presidential Villa, Abuja, on Thursday.
Briefing journalists after the meeting, Minister also revealed that the nation’s Excess Crude Account as at December 10, was $424 million, Stabilisation account, N33.3 billion, while natural resources account was N23 billion
“Also reported as regards the surpluses that states have with the federal government, that figure is currently 363.4 billion naira, while the state deficit position with the federal government, stands at approximately N16.6 billion”, he said.
Meanwhile, Lagos State Governor, Babajide Sanwo-Olu, while briefing said that the Ministry of Arts, Culture, Tourism and Creative Economy made a presentation for the establishment of historic sites to be named as Renewed Hope Creative Villages.
According to him: “The whole idea is for the ministry to be able to work first, with a lot of the sub nationals to identify some of these sites and identify some of these very historic locations, and see how they are adopted, into the creative villages, as a one stop shop.
“We have talked about the enormous opportunity that are bound in the creative industry, especially with our rural historic sites and with our monuments. So the whole idea around the presentation was for the ministry to put it at the front burner and for the sub nationals to be able to work with them identify various sites that can become what we call thriving.
“We know that sector has the potential of giving hundreds and thousands of jobs.”
