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Buhari Directs CBN to Release N28Bn Support Loan For 35 States

President Muhammadu Buhari-led Federal Government has approved and directed the Central Bank of Nigeria to release the sum of N28b as budget support loan facility for thirty five states.

The Minister of Budget and National Planning Udoma Udo Udoma told reporters at the end of the National Economic Council (NEC) meeting chaired by Vice President Yemi Osinbajo.

According to him, the Accountant General of the Federation briefed the NEC on the new approval.

Each of the states is to get a minimum of N800 million to enable them meet their salary obligations, pensions and other needs.

He said: “The Accountant General reported to Council that approval has been received and the CBN has been directed to pay N800 million to each of the 35 States of the Federation.

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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