December 29, 2024
FG Provides Optional N5 Billion Loan Facility To States
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FG Provides Optional N5 Billion Loan Facility To States

The N5 billion federal government relief package given to each state and the FCT is a loan with a tenure of 20 months.

The details of the federal government facility was contained in a memo addressed to the Nigeria Governors Forum.

Yesterday, Borno State Governor, Babagana Zulum, revealed the palliative measure by the centre following a national economic council (NEC) meeting presided over by Vice President Kashim Shettima.

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Governor Zulum gave a breakdown of the facility.

The terms of the facility allows states to opt out of the offer and return the N2 billion already given to them.

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