Nigeria: Govt Disburses N220.5 Billion Loan To 35 States

The Federal Government has so far disbursed a total of N220.5 billion budget support facility to 35 states.
Bauchi State Governor Mohammed Abubakar said Finance Minister Kemi Adeosun dropped the hint at the Council Chambers of the Presidential Villa in Abuja during the National Economic Council (NEC) meeting.Abubakar disclosed this to State House correspondents after the NEC meeting which was chaired by Vice President Yemi Osinbajo.
The governor quoted Adeosun as telling the NEC that last month, the Federal Government disbursed N1.1 billion budget support loan facility to 35 states.He said the minister disclosed that this made it a total of N6.3 billion disbursed to each of the 35 benefiting states. The conditional budget support facility was designed earlier this year to provide financial relief to state governments. The facility is based on the implementation of a comprehensive 22-point Fiscal Sustainability Plan (FSP) that was unanimously agreed upon by state governors during the NEC meeting on May 19, 2016.

Author: NewsAdmin

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