Buhari doles out N18 billion loan each to 36 governors
The National Economic Council (NEC) says President Muhammadu Buhari has approved a fresh N656 billion Bridge Financing Facility to 36 states.
Zainab Ahmed, Minister of Finance, Budget and National Planning, disclosed this on Thursday at a virtual NEC meeting presided over by Vice President Yemi Osinbajo and anchored from the Presidential Villa, Abuja.
According to Ms Ahmed, each state will receive N18.2 billion, disclosing that the bridge facility is processed by the Central Bank of Nigeria (CBN).
“The approved bridge facility of N656.112 billion will be disbursed in six tranches over a period of six months to the states. Expectedly, each of the 36 States will have a total loan amount of N18.225 billion, with a 30-year tenor and a two-year moratorium at an interest rate of nine per cent,” Ms Ahmed revealed. “The facility is to help the states afford the repayment of previous bailout facilities guaranteed for them by the federal government.”
The minister explained that the support was to help state governments to meet their financial obligations, especially the previous budget support facility due for repayment.
On July 15, the council had received updates on the budget support facility to states. At the meeting, Ms Ahmed informed NEC that the deductions for repayment of previous bailout facilities would commence soon. Subsequently, the states sought further support leading to the idea of bridge financing.
Meanwhile, the Executive Director of the National Primary Health Care Development Agency (NPHCDA), Faisal Shuaib, has briefed the council on the status of the country’s COVID-19 vaccine roll-out.
Mr Shuaib explained that Nigeria had received over 100 million doses of COVID–19 vaccines from COVAX, AU, and some countries, which was sufficient to ramp up vaccination for about 50 per cent of the targeted population.
“The total eligible population of Nigerians for the vaccine is over 111 million. Given the availability of vaccines, we have started rolling out a plan to vaccinate 50 per cent of Nigerians, 18 years and above by Jan. 31, 2022,’’ he said.
The NPHCDA boss added that there would be a scaling up of over 3,000 health facilities nationwide.
(NAN)
More from Peoples Gazette
States
Female passenger dies as container falls on vehicle in Anambra
The FRSC said, “due to the bad road along that area, the truck was not stable and the container fell on the bus and crashed it.”
States
Buhari meets Igbo leaders in Aso Villa over insecurity in South-East
A reliable source said the meeting discussed security and socio-economic developments in the South-East.
Sport
Amputee Football: Special eagles ready for AFCON in Tanzania
The sportsmen said their performance at the AFCON would help boost their chances of qualifying for the world cup.
States
Army donates protective gears, mosquito nets, other items to CJTF fighting Boko Haram, ISWAP
The army said the materials were to enhance the CJTF’s complementary role in the fight against terror.
Africa
Afreximbank gives Zimbabwe $188 million to buy prepaid meters
Four Zimbabwean organisations will receive $188 million from African Export-Import Bank to import prepaid meters to improve the supply of electricity and revenue.
Health
Boko Haram: Buhari regime blames U.S. lawmakers for preventing Nigeria from buying attack helicopters
Foreign affairs minister Geoffrey Onyeama has appealed to the U.S. government for support to tackle COVID-19 and develop a vaccine facility.
