SAN FRANCISCO, November 23, (THEWILL) – The Federal Government has approved a fresh budget support loan facility of N28bn for 35 states across the country.
Each of the states will get N800m to pay salaries and meet their other obligations.
Only Lagos State is not taking the loan.
The Minister of Budget and National Planning, Udoma Udoma, disclosed this to State House Correspondents on Thursday at the end of a meeting of the National Economic Council (NEC) presided by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja.
Udoma said the Accountant General of the Federation reported to Council that approval had been received and the Central Bank Governor (CBN), Godwin Emefiele, had been directed to pay N800 million to each of the 35 states of the Federation.
“The Accountant General reported to the council that approval has been received and CBN has been directed to pay N800m to each of the 35 states of the federation,” he said.
“Governors expressed appreciation to the Federal Government for the restoration of the Budget Support Loan Facility for July and August 2017.”
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