There is disquiet among Nigerian state governors following the directive for repayments of the loans they received from the federal government between...
There is disquiet among Nigerian state governors following the directive for repayments of the loans they received from the federal government between 2015 and 2017.The Ministry of Finance has put the total indebtedness of the states to the federal government at N614 billion. The money was advanced to the states under the tag of the National Budget Support Loan Facility.
PREMIUM TIMES investigations revealed that since the announcement by the minister for the repayment, the state governments have been agitated and had been working out an exit strategy from the loan burden.
PREMIUM TIMES gathered that the major concern of governors is that once the repayment commences, the funds may be deducted at source before the monthly allocation, at a time they are complaining that funds accruing to their states were not enough to meet their governance needs. “They are thinking of the impact of the new minimum wage; they are thinking of the impact on the security situation in the country and their capacity to raise IGR; they are thinking of expenditure around health, education, innovation and all that,” Mr Okauru said, while listing some of the concerns of the governors.
“Remember that there are several platforms for all this. The National Economic Council is the ideal platform for things like this and those discussions are ongoing right now,” he said.
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