The Federal Government (FG) has $5.4bn Paris Club Refund to the 36 states of the federation.
This was revealed by Finance Minister, Ahmed Zainab in a statement to okay News on Monday in Abuja.
She noted that the amount will be converted based on the official exchange rate of N305 per dollar, which makes it about N1.65trn.
Mrs. Ahmed also added that the Paris Club Refund was sent to the states in phases based on some conditions.
The conditions she stated are the states must pay salaries, get dedicated to the repayment of Budget Support Loans granted in 2016.
States were also ordered to clear amounts due to the Presidential Fertiliser Initiative, commitment to clearing matching grants from the Universal Basic Education Commission where some States have available funds which could be used for primary education.
