FG moves to recover N614 billion Budget Support to States

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The Federal Government has declared its readiness to recover N614 billion budget support given to states, as a committee to facilitate the recovery is already being constituted.  

The Minister of Finance, Budget and National planning, Zainab Ahmed reportedly briefed State House correspondents at the end of the National Economic Council (NEC) chaired by Vice President Yemi Osinbajo. 

Having presented an update to the Council on the budget support facility, Ahmed disclosed that each of 35 states benefiting from the facility will pay back equivalent of N175 billion. 

“Council agreed to constitute a committee of the Nigerian Governors forum, ministry of Finance and the central bank of Nigeria to finalize modalities for repayment,” she stated 

Details shortly… 

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