Bailout: FG doles out N50bn to 35 states, Lagos Excluded

Kemi-Adeosun-Minister-of-finance

The Federal Government has begun the disbursement of the first tranche of the N90bn conditional loan facility to some of the 35 states that have so far applied for a second round of loan funding.

INFORMATION NIGERIA in this regard brings to you the details.

The Minister of Finance, Mrs Kemi Adeosun, had on June 14, while announcing the N90bn conditional loan facility to states, said the funds had been secured from the private sector to state governments through the issuance of bonds in the bond market.

She had during a meeting with commissioners of finance from the 36 states of the federation said the loan would be given within a one year period.

The ministry of finance has commenced the disbursement from the first tranche of N50bn to some of the 35 states that applied with the second tranche of 40bn to follow suit soon.

It was however gathered that Lagos State opted out from accessing the loan and as such did not send in any application.

 

1 Comment

  • Thank you Baba Buhari and Pastor Osinbajo for once again coming to the rescue of these Oliver Twist states of Nigeria in the interest of the suffering workers and people. Your milk of human kindness will not run dry and mercy will not depart from your family. Again Lagos state is not cap-in-hand because Governor Ambode is merciful to its workers and retirees, like the Federal Government.
    As for those jeun-ko-ku (chop-and-quench) state governors-not all the state governors are like that, the day of reckoning is at hand. The EFCC should investigate their private accounts and those of their family and friends not only in Nigeria but also in Britain, America, Cayman Islands, Panama, Dubai, Switzerland, Malaysia etc. to trace what they have done with previous allocations, some of which the Federal Government had to borrow with interest to allocate to these states. They better repent now and return their loot, for everyday is for the thief, but ONLY one is for the owner – the people of Nigeria. Behold, the day of the owner is near for these oppressors. Their wickedness will locate them and the people shall sing in the streets –
    “RUN Pressor man where you gonna run to?
    Run pressor man where you gonna run to? (twice)
    All on that day……..
    You gonna run to the Sea (Britain, Switzerland), the sea will reject you
    You will run to the air (America) the air will eject you
    You gonna run to the land (Dubai, Malaysia, Panama), the land will burn you
    All on that day.”

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