FG N90B LOAN: FIVE STATES HAVE APPLIED FOR LOAN, MEETS REQUIRMENTS... SAYS FG,

 

The Akwa Ibom State Governor, Mr. Udom Emmanuel, revealed on Thursday that five states have so far completed the process of borrowing from the federal government. He said this while briefing State House correspondents on the outcome of the National Economic Council meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja. The Governor also quoted the Minister of Finance, Mrs. Kemi Adeosun, as briefing the council that one state declined to apply for the loan.

Mr. Udom Emmanuel who declined disclosing the states said, “The Minister of Finance also briefed the council on the Federal Government's N90bn budget support loan facility for states at nine per cent interest rate.

“She said five states have completed the process for borrowing from the budget support loan.”

Meanwhile, the Governor said that the Special Adviser to the President on Social Investments, Mrs. Maryam Uwais, gave a status report on the government's social investment programme. He said, “She briefed the council on the preparation, status of the planning, and responsibilities of the stakeholders towards the implementation of the programme. She told the council that the programmes are designed to fulfil the Federal Government's social protection role to its citizens, reduce poverty and inequality in Nigeria, among others. “The program's engagement with beneficiaries is already in progress and pointed out the role of the key players and partnership with states are very critical to the success of the programme."

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