Buhari approves fresh N656bn support fund for 36 states

  President Muhammadu Buhari has approved a fresh N656.112 billion Bridge Financing Facility to all states in Nigeria. Each will get N18.2bi...

 

President Muhammadu Buhari has approved a fresh N656.112 billion Bridge Financing Facility to all states in Nigeria.

Each will get N18.2billion to help them meet financial obligations, especially the previous budget support due for repayment.

This is part of the outcome of the National Economic Council (NEC) meeting on Thursday.

Presided over by Vice President Yemi Osinbajo, Governors, Ministers, Central Bank Governor, and other senior government officials attended.

Finance Minister, Zainab Ahmed, informed NEC that the Bridge Facility is being processed by the Central Bank of Nigeria (CBN).

The funds will be disbursed in six tranches over six months, with a 30-year tenor, and a 2-year moratorium at an interest rate of 9 percent.

At the NEC meeting on July 15, Ahmed said there would be deductions from state governments as repayment for the previous CBN bailout.

The states subsequently sought further support which brought about the idea of bridge financing.

COMMENTS

INNER POST ADS 2

Name

BBNaija,2808,Business,2744,CampusGist,1036,Celeb,4898,celebrities,240,Comedy,8,CONFESSION,11,Education,2471,Entertainment,6371,Fashion,367,Featured,626,Gist,2037,Health,732,Interview,1,Job,3,Lifestyle,874,Music,154,MY STORY,37,News,87989,Opinion,978,Poem,10,Politics,14459,Relationship,210,Sponsored Contents,31,Sports,18696,Style & Travel,47,Success Stories,265,Technology,342,Video,114,
ltr
item
Saga Gist - Top Source for Nigeria News: Buhari approves fresh N656bn support fund for 36 states
Buhari approves fresh N656bn support fund for 36 states
https://dailypost.ng/wp-content/uploads/2021/11/pbwUGMdX.jpeg
Saga Gist - Top Source for Nigeria News
http://www.sagagist.com.ng/2021/11/buhari-approves-fresh-n656bn-support.html
http://www.sagagist.com.ng/
http://www.sagagist.com.ng/
http://www.sagagist.com.ng/2021/11/buhari-approves-fresh-n656bn-support.html
true
3363430711841052055
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content