Akwa Ibom Govt Praises FG Over N90bn Bailout For States


Akwa Ibom State Governor Udom Emmanuel has described the Buhari administration’s N90 billion budget support loan to states as a positive development as states struggle to pay workers salaries, with the current economic challenges arising from the fall in global oil prices.

Speaking to correspondents at Government House in Uyo, the State capital on Tuesday, Emmanuel praised the Federal Government for providing such important lifeline, which he said would help states to fund their development programs.

He explained that the loan is not a bailout for the payment of salaries or pensions but a financial lifeline to support states fund their development projects as contained in their budget.

However, he said his administration was yet to decide whether Akwa Ibom State will take the loan.