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BREAKING: FG sets up panel to recover N614bn debt from 35 states

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The Federal Government has put in place a committee to facilitate recovery of N614 billion given to 35 states on budget support.

The Minister of Finance, Budget and National planning, Zainab Ahmed briefed State House correspondents at the end of the National Economic Council (NEC) chaired by Vice President Yemi Osinbajo.

She had presented an update to the Council on the budget support facility.

With 35 states benefiting from the facility, she said that each state to pay back equivalent of N175 billion.

“Council agreed to constitute a committee of the Nigerian Governors forum, ministry of Finance and the central bank of Nigeria to finalize modalities for repayment,” she stated

Details shortly…

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