FG Approves N28bn Budget Loan For 35 States

The Federal Government has approved 800 million Naira as a budget support loan facility for each of the 35 states of the federation.

The Minister of Budget and National Planning, Udo Udoma who gave this information after the National Economic Council meeting in Abuja, said the Central Bank had been directed to release the total amount of 28 billion Naira to the benefitting states.

Although the minister did not name the state that was excluded, he explained that the facility was for July and August.