February 29, 2024
FG Provides Optional N5 Billion Loan Facility To States
News Today In the News

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.

READ ALSO: Challenges You Face Are For Better Tomorrow, Tinubu Tells Nigerians

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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