In order to help the states who are struggling to pay and develop, the Federal Government has announced a N90 billion loan to the 36 states of the Federation.
Minister of Finance, Kemi Adeosun
The Federal Government has annouced the release of ninety billion naira loan to thirty six states of the federation to be accessed as bonds through the Nigerian stock exchange.
This was made public by the Minister of Finance, Kemi Adeosun at a stakeholders meeting with commissioners of finance from the thirty six states of the federation emphasized that the credit facility is aimed at developing a broad based and people oriented economy.
According to her, the ninety billion naira will be accessed by the states in two phases upon fulfillment of a 22-point reform agenda outlined in a fiscal sustainability plan aimed at repositioning Nigeria’s economy on the path of sustainable growth.
Adeosun revealed that the initiative is geared at developing a broad based economy with productive activities in every region and state especially in their areas of comparative advantage.
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